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

To: donald sew who wrote (57762)	11/18/1998 6:32:00 PM
From: Challo Jeregy	Respond to of 58727

Donald, earlier you commented about the McClellan Oscillator. It crossed the 0 line today, down for the first time in 35 or so days. lurker challo

To: donald sew who wrote (57762)	11/18/1998 8:05:00 PM
From: Debra Orlow	Read Replies (2) \| Respond to of 58727

Today's data: New Highs New Lows Advances Declines Unchanged NYSE 54 31 1486 1520 513 AMEX 8 11 268 289 166 NASDAQ 63 50 2104 2009 875

To: donald sew who wrote (57762)	11/18/1998 11:18:00 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 58727

I have 69 DOW and 79 OEX so we are close. Who used to track the 5 day TRIN we were following before the last drop? I am still curious as to how this run has panned out so far. I still see some companies with good outlooks lagging. To the poster that talked about the floor trader saying the internuts were only one sector. The same story was told on NBR tonight to their guest host. Should we start worrying yet? <g> With options expiry Friday, I think the charts are going to be tough to read due to the institutions unwinding positions. The WSJ article that was posted was interesting but didn't we get the pop after the first 2 cuts? The third could be a signal that we haven't seen the big picture yet. No gloom and doom here yet but I am cautious. I think as long as the world markets are holding we can try to pass our prior peak to appease the TA gods (higher highs etc). While most are focusing on AMZN and other rags to riches stories, I am more concerned with IBM, MU etc. These are not growth companies and are now higher than they were before the big drop. AMZN, IBM, YHOO will probably be announcing splits soon to match AOL. This should fuel some more euphorical buying frenzies. Meanwhile, I am seeing retracements on some good companies. The thing that bothers me most although it may just be jealousy, is how the companies bouncing the most are the ones that can't be valued by conventional means. What I mean is, you can add EPS, growth etc plug them into tidy models and assign an acceptable multiple to figure out how much risk you are taking in most real companies however these are not performing well. The companies with no earnings, many of which won't have real earnings for some time, are skyrocketing and there is no tidy model for converting page hits or future DRAM requirements vs the odds of Asia dumping again to spit out a perceived fair price. We have entered an era of seat of your pants trading and my seat keeps getting wet <g> Maybe I should just start playing DIA, OEX and futures but it is nearly impossible with a full time job. Just my ramblings since I didn't have much to say lately. Good Luck to all, Lee