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

To: Electric who wrote (49039)	8/3/1998 2:29:00 AM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

OT I had a terrible day as well; 42, 51. Worst 9 I have shot in months, Tried Nemer's set-up. Nemer is fulla Texa's Tea if you wish my opinion. Actually. What happened was I had a hard time putting on Saturday and canned most putts but then sprung $80 fo a magnetic belt to help my back and 3 putted all day. My back feels great though.

To: Electric who wrote (49039)	8/3/1998 7:45:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ---------------------- Take a close look at the last 6 trading days. The highs for each of these trading days are within 50 DOW points and similar for the Lows of each of these days. This is a unigue pattern and does occur that often. Also notice the spread between the high and low. The pattern for these last 6 days is alternating - up/down/up/dow. For just today I also feel that we could bottom at 8800 and then rebound intraday back to the highs of these 6 days which is around 9025. The key is whether we can break out of this 6 day trading range. Frankly I feel that the upswing today, if one occurs, could be limited to 40-60 points off Fridays close, falling short of 9025 - but that is just speculative and anything can happen. Here's a hint to the direction and that is that on Friday the SPX and OEX created lower lows during this 6 day period. It is not conclusive but a technical hint. If we do not get close to 9000-9025 today it will be another technical hint that the direction out of this 6 day trading range could be to the downside. Since we are now in a complex alternating pattern, today should be up, but if it is up it should not yet be concluded that it is the bottom. It needs to break the range to the upside. In light of the OEX/SPX setting lower lows on Friday, I feel the breakout will be to the downside but it will not be today but tomorrow. Today should be up, at least intreday, and fall short of the highs of this 6 day trading range, creating a LOWER HIGH. Seeya