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Strategies & Market Trends : Steve's Channelling Thread

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To: mishedlo who wrote (3201)	7/14/2000 8:26:05 AM
From: Zeev Hed	Read Replies (1) of 30051

I think that QLGC moved beyond the $88 hurdle and should get well above $100 before the end of the summer. Short term (to the end of next week), I believe that QLGC will take a "breather" with the rest of the market. Next week is expiry, and since we had a solid rally,the "powers" are going to try and render worthless the majority of the calls outstanding, they did not succeed too well last time, but I think they will be more successful this time, thus I see a "risk" of the NAZ running into resistance here just under 4200 and providing another bear trap by swooning for a very short "moment" just under 4000 before the rally resumes its "monster" qualities. Unfortunately, I still have 3865 (it has gone up from 3838) as the point at which the turnips will change their mind about the "monster". Thus I expect QLGC to revisit the low $80', with a possible swoon just under $80. A break of $78, while unlikely would signal a change in trend, IMTO. Zeev

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