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

To: The Perfect Hedge who wrote (53614)	9/23/1998 11:27:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 58727

I am watching it for that purpose but GTW is looking weaker so I may strike there first then move to IBM once it is clearer. Stochastic on IBM hinted at an upturn but the GTW signals are all bearish. I am watching both of them to see if they can break through the resistance points. If IBM fails 131 test again it would be a good one for puts. Right now, I am on the sidelines to see how strong this move is. There are pendants on the indexes as someone else pointed out and the TICK is still around 500 so I will wait for some weakening or a breakout first. Until the market shows where it wants to go, I think it is too dangerous to commit either way right now. DOW upside could run to 8125, OEX could reach 510-515 and SPX could go to 1060 before it turns back down without breaking the upper trend lines. I thought you were looking to go long on the P&F thread? Good Luck Lee