Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Tim Bagwell who wrote (12648)	3/2/2001 1:07:22 AM
From: Kirk ©	Read Replies (2) of 42834

RE:I'll let you try to tie these two events together. All I know is the action I saw the Monday following the 84 stop loss. In the early hours of the day, the Q's dropped just shy of 84 and turned on a dime. Maybe you think it was mere coincidence, but I just let the data speak for itself. I'd check your memory for new batteries. 8) QQQ stopped Bob out on THURSDAY (I was camping and rafting that day and my email box was full when I returned) but if you need a chart... this one works well bigcharts.com Notice it was an orderly drop to $84... Sure it moved a couple of points in a day, but QQQ does this all the time. In fact, they were oversold (fast sto's under 20 on that chart) as the TA shows on Aug 2 and it looks just like many of the early AM, Amateur Hour, capitulation blowoffs we've seen this past year followed by nice gains later in the day. Didn't we see something similar just today? I seem to remember looking at pulling the trigger on one stock today at $34, got chicken and it closed at $38 just a few hours later. The only thing Bob's followers MIGHT have done is provide some unnatural resistance just below $84 and that might have stopped the decline. About 35 million shares that day at $84 a share..... that is a load of money for people that ignored the original advice to "not chase and wait for them to come back to the mid $70's". I would think most probably didn't even participate as they were still waiting for QQQs to return to mid $70s. but WDIK?

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