Jim's Nasdaq100 Special as a basket. Message Board

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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: stockycd who wrote (1215)	9/10/1999 11:27:00 PM
From: OX	Read Replies (1) of 2103

Disclaimer: I'm no PnF expert, just an avid believer. Using the charts discussed here (dailies and BP's) PnF is not concerned w/ a 'minor' pullback to 2500. (Are you sure you mean 2500?) So yes, these charts and readings are longer term (not meant for 'daytrading' per se). FWIW, NDX PnF chart won't signal a sell until it drops to 2440 (20box). 2450 (10box) and even farther down to 2120 (40box). I guess if you want to sell your longs (not short :-) you could do it off the 3box reversal. Currently, 2350 is the middle of its 10 week trading band (per DWA). So as I understand it, any reversal to that area would be normal. Again, on a subjective basis, I see no reason why it won't revisit 2400 anytime soon. (Disclosure: my conservative QQQ play this week for Sep expiration was a buy-write at 123 as I expected a 120-126 range on QQQ. Of course if I was really sure, I could've written a strangle at 120 and 126 but wouldve received less prem for more risk at the time <g>)

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