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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject3/2/2001 9:52:18 AM
From: velociraptor_   of 37746
 
Too much of a gap down this morning...things look like they are starting to stabilize. Watch for a possible rise from this bottom to a higher high than yesterday. The pattern looks like it is a corrective bounce off of the 2050 support level from yesterday. Remember, corrections are 3 wave patterns and it appears that wave 1 was late yesterday and the gap down was wave 2. Thus, it is possible that wave 3 of this correction will still occur. If so, that will be a good time to pick up some cheap out of the money puts again or seel longs picked up at the bottom.
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