Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 180.43

-0.5%

9:33 AM EST

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To: LTK007 who wrote (44929)	7/17/2001 4:49:12 PM
From: ajtj99	Read Replies (1) of 56535

Max, I thought we'd bounce at around 1669 NDX and / or 2000-2006 COMPX. It appears we got to 1667 NDX and bounced. I expected some short covering at the end of the day, but nothing like this! I'm amazed at how the MM's cut through resistance points like butter on expiration week. Truly amazing. I got some QQQ July 42 calls at 1.20 yesterday thinking we'd pull something like this to try to get above Max Pain at 2060 and try to reach NDX FRL resistance at 1800 by Thursday. That is still an outside chance, since it would need us to get above 2105 and go to 2120 or so, and that's why I believe we may still be trading in the 2000 to 2100 range. IBM's earnings are important tomorrow evening, but their good news may be canceled out by EMC's bad news. Maybe that's why we are peaking a bit early. MSFT on Thursday evening shouldn't surprise, since they practically released it all just a week ago.

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