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

To: Electric who wrote (49628)8/10/1998 3:50:00 PM
From: donald sew  Read Replies (2) | Respond to of 58727
 
Electric,

The highest probability is a retest of the lows first before we move up or down. Obviously if we break the recent lows at 8362 that is not good, but if it holds that would be a technical sign that we are at least in a range trading trend. To return to an uptrend would require alot more confirmation than just a support line holding, but at least it is not a bad sign.

If this is all we get from this upswing that also is not a great sign. But keep in mind that the initial rebound after the OCT dump was not 6 days straight up but followed the pattern of UP, FLAT, DOWN,DOWN,UP, UP STRONG.

A signal that is confirming at least a retest is the way the RUT is losing about half of its Fridays gains. Other factors also.

Seeya



To: Electric who wrote (49628)8/11/1998 4:21:00 PM
From: Electric  Read Replies (1) | Respond to of 58727
 
FWIW...

PREM ended very poorly..

Down 3 from FV, so tomorrow we start in the hole..

It is interesting how when the market rallies hard at the close on a buy program that the futures always catch the current contract after the market is closed..

PREM at 1.02, FV at about 4 and change.. That tells me there were instituted buy programs that werent in line with the normal movement of the contract. So somebody bought at the end.. somebody big.


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