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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: JH who wrote (75557)	10/29/1998 12:07:00 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 176388

John....thanks for you input....your VIEW has been fruitful in the past....Cheers Tim

To: JH who wrote (75557)	10/29/1998 12:34:00 PM
From: Kayaker	Read Replies (2) \| Respond to of 176388

John, thanks for your insights re a possible NASDAQ top. This means I have to get up at 6:00 am PDT again tomorrow. Sigh. Oh well, I guess I have better hours than you. :-) PS. I still follow your option trades and find them to be very helpful, especially those on Dell. I hope you will continue. Thanks.

To: JH who wrote (75557)	11/2/1998 11:03:00 AM
From: JH	Read Replies (3) \| Respond to of 176388

OT RE: Triple top The Nasdaq 100 is currently challenging a "triple-top" resistance, thanks to the leadership in large cap tech stocks like DELL. I will watch closely to see whether it succeeds in breaking through resistance around the 1415 area (now at 1412). I have accumulated a small position in Nov1360 puts at an average price of $34 (now $20). My stop is at $17, which may be reached if the triple top breaks. Otherwise, I think I have a decent chance of recouping my losses (or even making a profit). Cracks are starting to appear in the semi-cap sector; AMAT, KLAC, and LRCX have all exhibited bearish reversal signals (doji tops, black candlesticks, and downside gaps) on downgrades by Morgan Stanley. AMAT, the bellweather, peaked on Friday at levels 67% above its recent lows only three weeks ago. This rate of ascent simply can't last forever. Today, I shorted December out-of-the-money calls for KLAC and LRCX because I believe that it will be very difficult for these stocks to rally to the strike prices of $40 and $17-1/2, respectively.