Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 41.71

-14.5%

Dec 12 4:00 PM EST

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To: rogermci® who wrote (15225)	4/30/2004 5:24:24 PM
From: Michael Watkins	Read Replies (2) of 207311

There is an 80% (gut feel no stats) chance or greater that price will move big enough against you at the open on Monday to take you out (unless you have a far greater tolerance for pain than I) trendvue.com You might get lucky... who knows, but we can bet that a bunch of folks will or already have put sell stops under todays price in the hopes of catching a big move down. (Will they ever learn?) Even if price does eventually reverse and go up, if/when those stops are run, your position may be 3,4,5,6,7 points against you very quickly and not show any sense of turning around. In the big picture, price is pointing straight down, and the March 23/24 lows are within striking distance of a big expanded range down day. trendvue.com Its not hard to imagine a bounce from here... and then an attempt at more selling, but I suspect that before any bounce can be conjured up that those stops under the lows will be taken out first. And the surprise move might just be a complete meltdown. Everyone always expects a bounce, after all. Clearly price is trending strongly here since 4/28.

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