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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (33686)	9/27/2000 7:44:52 AM
From: Jerry Olson	Read Replies (1) of 50167

Morning Ike.. SOX..any rally up should see R at 1000 area..where the 20/40/200 sma are standing overhead.. we continue to make lower tops and lower bottoms in the SOX...with my mind set looking out a bit..any failed rally up will take this index back down to break 880/870 support...closest support here is 840.. QQQ..and break of 87 would be a triple bottom break and take this index to 84 immediately..however if we rally here short term 93/94 will not be breached..all 3 time frames the 20-40-200 are there overhead on the daily candle chat..if we get there i will short this index there.. IIX...range bound index from 535 at the top to 500 on the bottom..any break either way of this index would signal the next hard move up or down... i am still in the short term bear camp and have been for a couple of months now..i still feel we have not seen the bottom yet..and will see it in OCT..any more warnings from any major big cap would tank this market... what worries me for the long side is warnings about next quarters rev's and profits...so we'll see.. hit and run daytrading is the best course for me..and thats exactly what we have been doing.. in fact Ike we were long RIMM & TIBX and many others yesterday against the daily trend... these are interesting times.... regards OJ

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