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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: robnhood who wrote (56037)1/10/2001 9:38:13 AM
From: AllansAlias  Read Replies (1) of 436258
 
I don't normally jump/sell on a weak opening like this, and one stands a decent chance of getting whipped so a stop is essential, but this opening is just at the point where it could start further drain.

NDX and, of course, the futures, spent most of yesterday building a flag/down-channel. Recall yesterday that I posted about a false breakout of said flag that probably trapped the chart-chasers. Anyway, we have opened just at/under this flag's lower line and it's worth a try to go short. If it had opened even just above the line it would be a better bet to buy it.

CSCO is paramount here as it looks as if it might be falling out of the coil it has been trying to build since Fed-panic day. Smelly is also tested same.
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