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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: bonnuss_in_austin who wrote (79039)	6/20/2001 12:31:53 AM
From: mishedlo	Read Replies (2) of 99985

I have to laugh that we are both doing the same thing. Heavy in cash but after taking a beating on too many other peoples play I am playing QQQ's myself. Puts are cheaper so you can go further out. I expect a bounce off 1850 but I will not go long on it. I am in a 1/2 boatload of SEPT QQQ's various strikes (but still very very heavy in cash). I believe we are destined to retest that April low, after an end of month tape painting rally from about 1850 to 2000 or 2100 or so. I will not go long at 1850 but I will get out of the way. If we further drop I will wait for 1600-1700 or so as a possible long entry point (holding my nose). If this plays out as expected I will wait for 2050 or there abouts and go nuclear short on QQQ's + the biggest garbage I can find. We will have that retest and I intend to catch at least 1/2 of it. If we get a nice bounce at 1850, I may catch 120% of it. That is my strategy at this point. M

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