Tim: The low vol today was significant to me, plus that it's been over 9 months since we had a lower vol full day, as I said in my earlier post.
Think about that in light of current market conditions.
I tend to think any bad news will tilt it negative, more than good news making it go up. Particularly given folks sitting on the sidelines today, waiting, tentative, unsure. That's why I said earlier, it's searching for direction.
I went into the week looking to go long with July QQQ calls. But, after waiting my usual hour or two into the open, I backed off and waited myself.
Should it break quickly down, I will try and catch it with QQQ July puts.
For the intermediate time, like we've discussed before, I ask, what will sustain it? I am hoping that the execs in their guidance from Q2 will be somewhat favorable regarding the future, whether it be for year end or Q1/2002. After all, they've had one more quarter to assess data and forecast. Some favorable comments from the big ones may help sustain a reasonable resistance level.
RR |
