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Politics : Idea Of The Day

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To: Skywatcher who wrote (35530)	12/1/2000 10:48:20 AM
From: James Strauss	of 50167

Since the start of October both you and Ike have been dead wrong...as I stated than...OJ was dead ON...I wish it was different...now ruined. Chris: Don't hold back... Tell me how you really feel... : > This has been a tortuous market, further exacerbated by the extended election uncertainty... What I try to do is plot out various support and resistance areas... We've had 5 years of reliable support confirmations... Unfortunately, this year we were thrown a few more curve balls... What it meant was needing to be more alert to the possibilities of downside surprises... Proper protection via cash and puts helps protect one's capital during these BEAR periods... We've also seen (1987), that a BEAR market can end much more quickly in this time of instantaneous information flow... Right now I have the NDX support target at 2300, with downside surprise support at 2000... We came within 126 points of that yesterday on heavy volume... On the upside I'm looking at NDX 2800 as the place to cross to confirm a bottom has been put in place... I wish I had a crystal ball or one of those Early Edition papers with tomorrow's headlines... : > But, I don't... So I do the next best thing... I become as knowledgeable as I can about technical analysis and the markets and I read Ike's posts very carefully; sometimes twice... : > Jim

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