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

To: Electric who wrote (50643)	8/25/1998 9:13:00 AM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE --------------------- The futures are up 9 right now, so at the market should upen up in rally mode. As indicated last night my calculation was that the DOW would become a CLASS SELL if it moved up 150-225 points(8716-8791), and the 8750 resistance line falls right in that range. Just for reference the next strong resistance lines are 8850, 9041, 9104. There is a very slight chance that 8850 could be reached. The highs of today would be a good time to initiate PUTs, especially if the DOW gets to 8750 range. Please keep in mind that unless we break 9041 the DOW is still within the LOWER HIGH and LOWER LOW trend. A break of 9041 would indicate a HIGHER HIGH, and would give the first major signal that this shorter-term downtrend could be over. The higher we go on this specific upswing the chances increase that the 8300 support may hold, but if/when 8300 breaks that will be BAD. Seeya