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Strategies & Market Trends : The Options Box

QQQ 626.65

+1.0%

4:00 PM EST

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To: RocketMan who wrote (1104)	6/1/2000 3:01:00 PM
From: SecularBull	Read Replies (3) of 10876

You have to remember that upward pressure at this point is undoubtedly causing a short-squeeze. I would expect that we will have some big down days when the short covering subsides, and the buyers retire to the sidelines. I do think that we have strong support at ~3100. I think that in order to build a solid base, we'll probably retest near that level. The difference though is that I would expect the pullbacks to be less and less broad-based, and possibly not as severe as to go down to 3100. IMHO, today is not a day to be buying. Buying should've been done ~3100. Regards, LoF

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