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Strategies & Market Trends : Sharck Soup

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To: velociraptor_ who wrote (16835)	4/18/2001 12:39:28 PM
From: marc chatman	Read Replies (1) of 37746

I'm also lost with the counts. I believe the compx is now bumping up against its downtrend line on the weekly, which should be resistance, but who knows with this market? I'm not rushing to buy puts today since my gut tells me there may still be shorts out there who are going to look for any dip to cover. Also, the price may get better for the May's after the April's expire this week. On the other hand, we are getting a nice little bearish wedge on the 15 minute chart, and a possible bearish divergence is forming on the 15 minute stochastics. I'm tempted to short the QQQ's, but then Greenspan may cut another 50bp this afternoon. <g> Lower interest rates as a solution for extreme excess capacity -- hmmm, for the first time ever, I'm considering an investment in gold.

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