INTEL TRADER Message Board

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Technology Stocks : INTEL TRADER

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To: phillong69 who wrote (10878)	4/12/2002 12:56:28 AM
From: Berney	Read Replies (2) of 11051

RR, Smooth move Dude! Your SnP puts just shows how tough it is to make money in this market. In any case, glad that you got out alive. I wish they weren't going to gap the Market up in the morning as it will just create a gap that has to be filled. However, it just seems to me that the trading range since Oct is alive and well. I could actually make a bullish case at this point. It may be that NDX is simply doing a retest of the 62% retracement of the 9/21 to 12/6 run. I've been playing with a concept that 9/21 represented the end of a five move down on NDX. The move to 12/6 was a wave 1 up and the move to 4/11 was a 5 wave 2 down. This would mean we have a wave 3 up coming. There is no way to justify it in FA terms, but when has that mattered. As far as I'm concerned, the bullish argument is in play as long as NDX doesn't close below 1300 and OEX below 540. Of course, NDX needs to break that pesky down trend line on the daily at about 1370 for the bullish argument to gain momentum. I will also to admit that I might just be brain dead from doing all these tax returns. Alas, only 2 left! Just a View from the Swamp TB

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