Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: epicure who wrote (57327)	11/12/1998 2:13:00 PM
From: Gersh Avery	Read Replies (2) \| Respond to of 58727

I make that to be about a 70 point drop .. and you? Gersh

To: epicure who wrote (57327)	11/12/1998 2:28:00 PM
From: S. Chiang	Respond to of 58727

X, Like the last time, the H&S may be broken before the right shoulder is formed. The right shoulder will not be completed until INDU falls below 8827 or so. SC

To: epicure who wrote (57327)	11/12/1998 2:59:00 PM
From: donald sew	Read Replies (3) \| Respond to of 58727

INDEX UPDATE ------------------- Per my short-term technicals here are the readings for various indexes right now: DOW - 49 (MIDRANGE) SPX - 45 (MIDRANGE) OEX - 50 MIDRANGE NAZ - 75 NEAR OVERBOUGHT RUT - 25 NEAR OVERSOLD BKX - 9 OVERSOLD XAL - 6 OVERSOLD There are obvious divergences amongst the various indexes at this point, not giving any firm direction. Originally I felt that this downswing would last thru this past TUE/WED and then an upswing to start which should retest the recent highs by the FOMC meeting on Tue. Right now the VIX is at 27 and it appears that the next support(BUY SIGNAL area) is around 32-35. This would be in line with my short-term technicals of a midrange for the overall market. Since we are basicly in the mid-range with divergences, the market could continue down/flat until next MON/TUE. If we do continue down prior to next TUE, the downside will be limited with strong support at in the 8700-8800 range. My strategy is that if the DOW is in the 8700-8800 by the time of the FOMC meeting, I will just go long if the rates are cut, giving my broker to pull the trigger on that announcement. I would do that with the expectations that the market will at least retest the recent highs around 9000 Seeya