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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Berney who wrote (4449)	10/21/1998 10:40:00 PM
From: Gersh Avery	Respond to of 11051

Berney .. No, you got it right Paper trading options in the opposite direction of the trend. Trying out a system that should produce a nice margin. Gersh

To: Berney who wrote (4449)	10/22/1998 1:49:00 AM
From: MonsieurGonzo	Read Replies (3) \| Respond to of 11051

Berney; RE:" Chat and Chew T/A " IF we assume that this is an UpTrend - our charts look different... ...for example, the target on IBM becomes something like ~148 (^_^) RLX.X - Retail Sector Index geocities.com ...certainly looks near the top of its apparent DownTrend trading range channel, n'est-ce pas ? Indeed, the last three daily candlesticks have an evening star aspect, and an apparent reversal sentiment. But in an UpTrend, a reversal is something like 1 to 3 sessions. I wonder if RLX.X will re-test its DownTrend ? The solid DownTrend Line is drawn from closing prices; the dashed DownTrend Line is drawn from absolute high prices. The horizontal dashed lines are fibonacci levels, which are computed rather than placed. 200d EMA is yellow; 50d EMA is magenta; 14d EMA is cyan. Stochastics are %K=14, 2 slowing, %D=3, method time series. The bellwether is WMT - Wal-Mart WMT's chart looks like a triple-top; entry points are 1x65, 2x63, 3x61 and 4x58 +/-1 = 10x60.6 DRG.X - Pharmaceutical Sector Index geocities.com According to this chart, Tuesday's close / Wednesday's open was an entry point for DRG.X; ie., having broken the little DownTrend drawn from 23-SEP's top, DRG.X paused and then re-traced back to its 50d EMA at ~665 and said, "buy me, I'm going to ~675 and then maybe ~690". The bellwether is MRK - Merck ...but JNJ - Johnson & Johnson will do; component AMGN - Amgen looks similar. Personally, I prefer to play the index rather than the components in this sector, but yeah - I'd rather be 2:1 = LONG : SHORT in a ratio backspread at DRG.X ~665. How about you ? NF.X - Financial Sector Index geocities.com After going from 600 to 400 in three months, everybody expects NF.X to tank on down to ~450. The 200d EMA is around ~500. We can only guess that this remarkable recovery was amplified by short-covering. The three sub-sectors: BKX.X IUX.X XBD.X look similar to NF.X Beats me, Berney (^_^) I sold covered CALLs to exit, but now I'm thinking of re-entering GRN - General Re again :-/ XMI.X - Major Market Index geocities.com ...man, that sure looks like a top. Thing is, I can think of no "news" that would drive it down, can you ? I mean, GE - General Electric is telling me, "I want to go to ~86, and then maybe ~90". -Steve