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

To: Electric who wrote (43989)	5/28/1998 9:56:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

I dunno, the Big Boom sent shivers down Globex spines last night. I think it will come down and then rally positive into the close. I'm back to trading this like a trader and not presuming anything. I'm not going to trade like a bat out of hell, I hope, just take positions and reverse as necessary. Too early for a re-test of yesterday's lows. But the general intermediate trend appears to me to be down. A stairstep affair that sees lower weekly lows and lower weekly highs. The next penetration evidently has to be 75 on the spoos, which would suggest another 15 points down and then a re-tracement to perhaps the last break at 80. Here, I think the retracement fails at either 04 or 10 on the spoos. It seems to take out a low, work up to the last low or the one above that, then take out the low again....stairstep. So, either it hits the wall between 97/04 or at 10.