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

To: WBendus who wrote (47718)	7/13/1998 2:32:00 PM
From: Patrick Slevin	Respond to of 58727

It's funny how people can have such opposite views on certain things. If were a bond trader I would have sold last week; I was tempted to give it a try when it failed to move higher past 124.00 on Wednesday. At this point, I think it will come back over the next week or less. It's appears to have flattened out to me; I think key supports are 22.24, 22.18 and the recent low at 22.14 I've started to leave Japan out of the mix in my thinking. It appears to be on everyone's mind so I sense there is something else coming....expect the unexpected I imagine one would put it. Possibly a bad spate of earnings, I don't know. As far as near term prospects, with the rally off spoo support in the 69 range earlier and the current return to the higher end of the range I have to believe we either go to the mid 80 range very quickly breaking the high 77 area or it fails again towards S at 69. This is the only way II can play it from my standpoint. Just trade the range back and forth and be prepared for a break at one end or the other. I just have always had a difficult time conceptualizing going out further than a day or two. The results have always been pretty spotty.