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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Cactus Jack who wrote (30384)	2/2/2001 6:31:36 PM
From: Sully-	Read Replies (3) of 65232

To:Kemo Sabe From: LG Kemo Sabe: Yep, but anybody waiting for the gap to be filled before going long need not wait any longer. It just got 12 pts away from closing the gap. Gap closure should be good for a pop of about 100 pts, more or less. What Index are you talking about and what are you using to come up with a 100 point pop? Regards, LG ====================================================================== To: LG From: Kemo Sabe LG: Oops, NDX is mainly what I follow. ====================================================================== To:Kemo Sabe From: LG Kemo Sabe: I thought that might be the case. Reason for a 100 point pop? By the way....The NDX 1/16-17 gap up filled as it tested its 1-3 uptrend support line breaching it in the process. Both the NAZ Emini and QQQ fell through their respective 1/16-17 gap ups. The NAZ Comp was testing the upper boundary of its 1/16-17 gap up into the close. My short/medium term intraday technicals for the NAZ Indices are in the oversold range with the longer-term intraday technicals approaching oversold. The NAZ Emini is getting a bounce after the close... Regards, LG ====================================================================== To: LG From: Kemo Sabe LG: Reason? Low volume selloffs normally leads to at least a 50% retracement in relatively short order. These selloffs more often than not end on a Friday, with a minor gap down on Monday, and then off to the races again. Today there was a lack of buyers because of a) O/B condition, b)Friday, c) Less 401k money, and d) general tendency 'not to buy' when the price is falling. Next week will be a different story, but noone can say the selloff won't continue until the CSCO news is digested. ====================================================================== Ö¿Ö

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