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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen who wrote (7837)	3/9/1999 12:55:00 PM
From: donald sew	Respond to of 99985

Stephan, >>>>> , are you playing the move down or just looking to go long on the weakness ??. If you are planning to go long, would you be waiting for the oversold signal, or do you have a retrenchment target in mind <<<<<< I will not play the movement down on INDEX OPTIONs, but may play a few selective stocks on the PUT side. Most are just watching the indexes but they are not noticing is the increasing number of stocks which are lagging. For example, back in JAN when the DOW hit 9600 I closed all my longs or hedged them. Well, except for 1(ATML) they are all still below the levels I closed/hedged them. Just like the analyst say its a stock picking market, that also applies to the downside. So selectively I may initiate some PUTs on individual stocks, but not the indexes yet, since this market could head up some more. On the reverse side, if you pick the right stock one could see more new highs set. Just saw the NAZ and it has already sold off about 50% of its INTRADAY highs, but still feel that this pullback may not be that strong for the indexes. seeya