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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (20121)	6/11/1998 11:16:00 PM
From: robnhood	Read Replies (1) \| Respond to of 94695

Bob, I read that some market timer said a close below 8750 or trading below 8717 intra day are critical #'s... Meanwhile, back at the ranch, Asia falling again and S&p's are up..<g> russell

To: Oeconomicus who wrote (20121)	6/11/1998 11:41:00 PM
From: Orhan Birol	Read Replies (2) \| Respond to of 94695

If 8750 intraday breaks and I think it will break in the next few sessions we are due for drop to 8000. If you look above, you will see a huge umbrella top building above since April. Just as the longer the base, the longer the move up-the longer it takes to form the top the longer the move down will be. This is just my opinion and I have been wrong before! I started buying puts on INTC @85, AMAT @39 1/2, KLAC @42, and few others, if I hadn't kept on rolling down the strike and reducing my bet I would have made a fortune in a month as they were all Junes. I am still in with much less to loose and another month to go. Good luck, Orhan