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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (43746)	5/21/1998 4:18:00 PM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE ------------------------- If tomorrow and Monday is down, that would be a another negative sign for the market. After todays performance the short-term technicals will be back in the middle, which means it can go either way. There will be a few oversold indexes: SOX, DRG, XAL, OSX. Since the technicals are in the middle for most of the market, I can only guess that tomorrow could be similar to today. Up in the morning and selloff in the afternoon, especially in light of the long holiday weekend. Today's performance has now changed my timing cycle. If the bias continues to the downside, the overall market will get to oversold range by next WED/THUR, which is opposite to my previous position whereby I indicated that the TOP would be reached by TUE/WED. What I am noticing is that the short-term technicals are girating in the mid-range giving no defined direction of the short-term trend (1-5 days). I am quite comfortable with the position that we will not hit 9600 anytime soon, and still sticking to the trading range of 9300-8750 Seeya