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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (14429)	4/16/2001 12:19:28 AM
From: ajtj99	Read Replies (1) of 30051

Zeev, the COMP may rally Tues and Wed, but I believe the NDX has peaked for now. The stochastics show massively overbought, and most of the larger issues are trading above Max Pain. Furthermore, the QQQ Max Pain is 40. It looks like if the COMP is going to get that last leg up, it will have to be with the smaller issues making big advances, which is entirely possible. I'm selling my QQQ April 39 calls at open, and I'll watch how things transpire. I was planning on looking into April QQQ 43's Tuesday if I sold those calls Monday, but that doesn't look very prudent right now. SMH puts look better, even with INTC's numbers due out. Good luck bargain hunting. There should be lots of discounts in the AM.

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