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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 693.77-0.2%Jan 13 4:00 PM EST
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To: Johnny Canuck who wrote (24493)12/3/1999 4:45:00 PM
From: d. alexander  Read Replies (1) of 69735
 
Harry; a little puzzled here; can't find a gap at 1327. Do you have a date on that? Does seem rather far away, 100+ points. I was wondering if it would retrace to test the 13dma, around 1410. It's still above the downtrend from the last high, which is the first support (1425, give or take).

>>>Betting on QQQ options for a near term correction:

I had read this & wondered if it were deliberately ambiguous. ie, yes, options players are betting on a near-term correction - BUT frequently high put volume is taken by Schaeffer contrarians as bullish! This time, they don't say. Best of both worlds.

Thanks for Ike's bond comments. It reminds me of a stumble in my efforts to get educated. Friend of my ex is a long-time, successful & affluent commodities trader on the west coast (he still uses the phone). A couple of year's ago, thinking I might get some feedback on what it meant & what he thought, I sent him one of Ike's posts. I was also trying to point out what great things were to be found on the internet. Not only didn't get any feedback, I almost haven't heard from him since. Have always wondered about that <g>

Will try to have a look at the lights myself. Nose to the monitor(s)

Dorothy
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