Jim's Nasdaq100 Special as a basket. Message Board

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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: James F. Hopkins who wrote (1927)	2/3/2001 9:11:26 AM
From: Kemo Sabe	Read Replies (1) of 2103

Captain: I agree with your feeling on the gap. It needed to be closed, to be sure. Now that it has been closed, I think action in the QQQ will be more rational. Friday, the CSCO/SUNW reports, along with technicals & the 4.2 up-tick in unemployment scared what few buyers that were there away. All of these were expected & even telegraphed in advance. Where the QQQ is headed, as I see it, depends on the blue chips. If they blaze on thru resistance, the QQQ will sell off over the next week or 2. If not, it has a good chance for recovery. Right now I'm leaning toward a bounce of about 2-3 pts, then further downside into about Friday - but this expectation subject to change when CSCO reports. Kemo Sabe

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