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Strategies & Market Trends : The Options Box
QQQ 611.67-1.9%Nov 6 4:00 PM EST
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To: Poet who wrote (10082)3/15/2001 1:37:49 PM
From: bobkansas  Read Replies (1) of 10876
 
Very interesting post POET.
Do you or anyone else reading the thread have any thoughts as to the impact of the fibonacci levels involved? My basic and perhaps dangerous understanding is that 61.8 percent retracement would be the likely base i.e. 1994 point level of NAZ. But my t.a. and gut feel tells me that anywhere between where we are now and 1140 IS Certainly POSSIBLE over the next several months.

I have finally started buying puts on rallies and will continue to do so until the trend down is proven otherwise.

In bull markets we were conditioned to buy the dips...in bear markets we will become conditioned to sell the rallies...and then the overall trend will change again, trapping those who cannot learn flexibility in the market.

Best regards, Bob Martin
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