123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 629.07

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To: Sam2482 who wrote (124)	2/14/2001 10:09:52 PM
From: Ally	Read Replies (1) of 147

Yes, today turned out as a Valentine massacre that never was. Instead, it was a sudden change of heart, and techs turned all rosy again. The strong trails left by the tell tale stocks (JNPR, AMAT, CSCO) seem to indicate that this could be the bounce that we've been expecting. The signs are strong, especially in the last hour of trading today. The market never stops to fascinate me. Just when it seems to be plunging into an abyss, it bumped bottom, and the abyss turned out to be just another hole. It feels like there are lots of money lurking around, waiting for deployment as soon as there is a sense of bottoming. Despite the lack of visibility on earnings outlook from JDSU and AMAT, investors and traders saw bottom and started buying. We'll see if indeed today's action forms a higher low and the COMPX turns up the 20 ema line (around 2,600).

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