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Strategies & Market Trends : The Options Box

QQQ 625.58

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Dec 11 4:00 PM EST

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To: Lost to Voodoo who wrote (5148)	9/18/2000 5:27:34 PM
From: Dan Duchardt	Read Replies (1) of 10876

Voodoo, Dan - Looks like the smart money was using the semi-logs! Maybe so. In any case they blasted through both out lines. <ggg> Liner or semi-log, we should both have a mid August low that is at 3787 (COMPX) and 3522 (NDX) on my chart. We got close to it and bounced today. I was hoping we would make a clear touch to slight penetration of that level. I'd feel a little better about the bounce if we had. This was just a tease. The Dow was equally ugly, falling below the 200dma and back into the diamond formation it had apparently cleared in mid August. The diamond is going to close in about 2 weeks, so the lower uptrend line is not far away, around 10750 tomorrow. If we fall through that one, it will break the 100dma too. I don't see any support above 10500 if it goes. I have no bias at this point. Today could have been the low of the week, and tomorrow could be a nasty Tuesday. Dan

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