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

To: donald sew who wrote (48636)	7/27/1998 11:46:00 PM
From: investz	Respond to of 58727

Update on new option books, here is a great list to follow, check out the page below: Option Books- geocities.com

To: donald sew who wrote (48636)	7/28/1998 12:30:00 AM
From: Dwight E. Karlsen	Respond to of 58727

the DOWN VOLUME on the NYSE exceeded the DOWN VOLUME (325 million to 274 million). Don...that's indeed profound. -G- my list of software stocks showed that only a few issues closed positive, with MSFT and ORCL the notable exceptions. Lots of others lost quite a bit: techstocks.com In the internet sector it was similar...AMZN and YHOO up, virtually all the others down. Not a very brave rally, bunched up in the "NO FEAR" stocks as it was. While INTC and ORCL aren't in the momentum camp, these companies aren't going away either, as each have dominant positions in their respective sectors. While these NO FEAR stocks may entice longs back in, as you noted this market is on tenderhooks on a technical basis, with a/d line going lower and lower. As such, if the ECI on Thursday (8:30AM EST) is up again, that might be enough to knock the mkt back to a retest of today's lows or lower. I don't see much pain out there yet from the longs, so that tells me we will be working our way back down somehow.

To: donald sew who wrote (48636)	7/28/1998 8:35:00 AM
From: Patrick Slevin	Respond to of 58727

UP/DOWN VOLUME I've noticed this myself, that days which start with a massive selloff and recover (or vice-versa) have a skew to the A/D. Co-incidentally, McMillan notes in today's report that what you saw was typical action. He says if the market continues to rally today the advances will fall into line. In essence what he is saying is that when a market "bounces" from an extreme oversold condition the A/D never catches up in time for the close. Of course, the market may decide to sell off anyway; but the observation of the divergence is not a rare one.