VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: limtex who wrote (28384)	1/5/2001 3:27:29 PM
From: marginmike	Read Replies (2) of 65232

We are retesting lows, volume is weaker, and many stocks(leaders holding higher high's) that is all bullish for me. HOWEVER If we cant hold 2300 its lights out. If this weakend brings a default, or a big troubling issue this market could keep going down. If we bounce hardof 2300-2400 I would go long for the rally. I think Qcom is technichaly weaker then other's and I might go another route like QQQ's. The volume on the downside should keep drying up. IE on Monday Qcom fell on 15 million shares before 1pm. Today very litlle selling volume. The NAZ volume will only be around 2 billion compared to 2.7 last selloff and 3 billion on fed day. I think this bottoming process will take a whille and I expect 2400-2600 range for a whille.

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