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

To: ViperChick Secret Agent 006.9 who wrote (51499)	9/4/1998 1:38:00 AM
From: FJV	Respond to of 58727

Lisa, Sorry. The explanation I posted comes directly from Favor's rapid fire tongue in an interview I heard some time ago, thus my fuzziness about the details. I don't know of a website that calculates it. MER is one scary stock. It has broken all meaningful support to the downside, and that's the only way I'd position trade it, especially if the financials continue to lead the way into oblivion next week. For a day trade, its 9 day ema is about 8 points higher than today's close, so if the BKX shows any strength tomorrow, you may get a nice snap back. I would definitely use tight stops to the long side though. The premies on the Sept. options are pricey, even the ITM strikes. Volatility has been ferocious. FWIW. Franco

To: ViperChick Secret Agent 006.9 who wrote (51499)	9/4/1998 8:03:00 AM
From: donald sew	Read Replies (1) \| Respond to of 58727

INDEX UPDATE -------------------------- I previously indicated that today could be possibly a big down day, however the futures are up 7-8 points, indicating that there will be a pop in the morning if the futures stay there. Unless we surpass WED's highs(7952), that would indicate that it was the short-term top and the downside will continue. If we stay below yesterdays highs and above yesterdays lows, the DOW will be forming a PENNANT. PENNANT normally take the direction of the the trend, which at this time is DOWN. Also important for us impatient PUT players is that PENNANTs normally do not last long. If we do stay within such parameters, today will be the 4th or 5th day of the PENNANT. The following URL has a good explaining of PENNANTs: chartpatterns.com As I am writing this post the futures dropped from the 7-8 range to 80cents. Seeya