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Strategies & Market Trends : The Options Box

QQQ 623.23

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Nov 10 4:00 PM EST

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To: Poet who wrote (10547)	4/21/2001 10:46:37 AM
From: hobo	Read Replies (1) of 10876

On a more serious note... I found this comment on the Worden Brothers daily report worth mentioning. (it is unfortunate that I have no means of displaying the attached charts). ____ A Good Week…But I suggest you check out the trendlines on the paperclip charts attached to the Nasdaq (COMPQX) and the Dow (DJ-30). The Nasdaq: The action is encouraging, particularly the way the important leaders are performing well. However, the Nasdaq is not out of the woods. It's still in a downtrend. A conventional trendline along the tops since September has not yet been taken out on the upside. The longer trendline is a regression line. This is the kind of line the price fluctuates above and below. So far the price has been able to get up to LR line but not above it (as, for example, in September and in January). It's going to take a pullback and another upthrust to nullify that downtrend. The Dow: A linear regression line starting back over two years ago is almost horizontal. Looked at in context, the current move is just one more regression to the mean. It will take a lot to spring the Dow to new highs. So far it has only made it to the average level of the past two years. So worry and run scared. But don't be afraid to hold some stocks. Make sure their individual patterns offer good potential and, especially, make sure your entry and exit strategies always assure a good risk/reward ratio. -DW Worden Bros: tc2000.com

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