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To: Jerry Olson who wrote (23542)2/17/1999 9:19:00 AM
From: IQBAL LATIF  Read Replies (2) | Respond to of 50167
 
In my opinion 1232 on SPH will hold we may run some stops as low as 1226 area but I would presume that someone will be longing as people short on opening, I would like that NDX selling to be maintained and continous, this is to take out 1910 where we will hit if NDX stays below this number 1880. My trade will be along with what locals would do, I would like to take this as an opportunity to see if some trade can be made out of this at the supports, I will be leaning to long at support at 1928-32 area with a stop loss at 1907 on NDX, I will trade SPH taking cue from NDX.. if SOX turnaround 282 and moves up from there the market would reverse..



To: Jerry Olson who wrote (23542)2/17/1999 10:19:00 AM
From: James Strauss  Read Replies (1) | Respond to of 50167
 
OJ:

Market Breath Pointing To Lower Numbers...
quote.yahoo.com

New Lows continue above 40 on a consistent basis...
decisionpoint.com

The McClellan Summation Index continues in a downtrend...
decisionpoint.com

We have tests of support at Dow 9100, Transports 3100, and
S&P 1214...

I have this dream that DELL will return to long term support in the the 50's for a great long term hold... : >

Jim



To: Jerry Olson who wrote (23542)2/17/1999 10:31:00 AM
From: Michael Rich  Read Replies (2) | Respond to of 50167
 
Jer,

I think the boys have abandoned DELL for now. The spillover
effect to other stocks should be limited. I have
l/t positions in ORCL/AMAT/INTC and think they should be fine.

DELL came back to test 50ema. It should test 200ema soon.
I closed my DELL Feb puts. May get some March puts.

BTW, the popular idea is to short internet stocks when things
get shaky. It may not work out. The sector has been the leader
and should continue to be.

Take care.