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

To: AlanH who wrote (57095)	11/5/1998 7:31:00 AM
From: Lee Lichterman III	Respond to of 58727

Confusion reigns. I am showing an over bought reading on the OEX again. About 86 after a reading of 88 and 89 the past two days. This should mean a pullback at least short term. The transportation index and PG were also down while DELL and IBM were looking tired. On the other hand, there were big break outs on MU, INTC, LU and some of the other big Techs and multiple inverted H&S patterns on the charts. I was looking for a pullback commencing around the 6th and now as it approaches I am getting mixed readings across the market. With my index reads, it still appears we should stay flat to down until my indicator drops and as someone else pointed out, the VIX is getting into dip territory. I wish Don would come back to possibly clarify some of these mixed signals. Maybe his guitar string snapped and knocked him off the web. <g> I just see us too over bought to move up much more short term. I still feel that we will drop into both options expiration and the Fed meeting. Most of the earnings are out of the way with only DELL left to move the market up. I think MSFT is paralysed by the DOJ action so the NAZDAQ should stall pretty soon also if DELL doesn't start running soon. Just my thoughts on this morning BWTHDIK Lee Only posting to you since you are the last post here.