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Strategies & Market Trends : 123 Trends and Reversals
QQQ 625.48+0.4%Dec 5 4:00 PM EST
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To: Michael Watkins who wrote (2)1/29/2001 10:24:04 PM
From: Ally   of 147
 
Hi Michael,

It is an eerie time right now to see traders continue to pick bottom despite various earnings warnings from giant companies, Cisco included. Seems to me that the market has already factored the anticipated rate cut. I have this feeling that hedge funds will take the opportunity to feed inventory to traders on Wednesday. Unless, Mr. Greenie does more than half point.. then the QQQ resistance of $69 could easily be broken. Like you, I would stay on the sidelines until the air clears up and see if indeed NAZ has changed direction.
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