MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (1843)	12/9/1999 4:48:00 PM
From: J.T.	Read Replies (1) of 19219

No action on QQQ puts again. I will be clear if action is taken. After hitting intrady low of NDX 3,094, I was looking for a rally back up to this "3,140 high end level". We actually got back up to 3,160. Then we went down to 3,120 and headed right back up. On a two minute scale it briefly breached 3,120 to 3,119.50 for all of about ten seconds but this was not enough for me to pull this trigger as it was a trap: ...<QQQ puts... now look for rally to NDX 3,120 to 3,140 level and then cross back down below NDX 3,120 to buy Jan QQQ puts>... Whipsaws everywhere and somehow I avoided this trap. Best Regards, J.T.

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