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Strategies & Market Trends : The Options Box

QQQ 616.28

+1.4%

4:00 PM EST

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To: dli who wrote (8376)	12/9/2000 9:18:14 AM
From: Atin	Read Replies (1) of 10876

All I do is what the chart says to me (it might say something completely different to you :) ) -- we formed a decent bottom, and ideally we will test it around here. On the $NDX (http://www.stockcharts.com/webcgi/Pnf.asp?S=$NDX&N=B&T=on), 2550-2650 doesn't seem out of the realm of possibility and I might stretch it a little and say if it gets below 2700 I'll take it. If it does get there, I will buy when it crosses back over 2900 because I think 2900-3000 is where it needs to get over and stay for the trend to change to up. If it falls below 2450, I will buy the cross back above 2450 for the same reason except I would consider that a lower risk entry and would get in earlier. So I am actually hoping for some tankage -- it would make the bottom feel more solid. -Atin

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