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

To: donald sew who wrote (49483)	8/6/1998 7:38:00 PM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE ------------------- Made a mistake, and need to correct my previos index update. Instead of 8750-8850 as the upside target for this short-term upswing, it should have been 8685-8750. Recapping my projections and extending it: 1) Current short-term upswing to continue and top-off around AUG 11-12(next TUE/WED), with upside target of 8685-8750. 2) Pullback to start AUG 11-12(next TUE/WED) and bottom out around AUG 17-18, with downside target of the recent lows(8362). If 8362 does not hold then we could then go down big, and the following(point3) will be negated. 3) Upswing to start AUG 17-18 forming a double bottom. Maximum upside target at 9040, with top to occur during the last week of AUG/first week of SEPT. 4) If 9040 holds, then the last week of AUG/first week of SEPT will have a high probability to start the really big downdraft that could bring the DOW into the 7000's. Still need alot of confirmations for the above to happen. Just today the market internals and some techncials started to improve, which should support this short-term upswing into next TUE/WED. If they improve too much and very fast, that could negate/reduce the probability of the big dump into the 7000's. Carefully watching the technical signs. Seeya