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Strategies & Market Trends : NetCurrents NTCS

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To: Teresa Lo who started this subject	7/31/2001 12:41:08 PM
From: Teresa Lo	of 8925

Quick look at QQQ: Here is the daily swing chart. Been on an upswing since the test of bottom on July 24. First target to the upside, the 20-day EMA has been met, and today it is testing the upper edge of the falling wedge. The 50-day MA overhead is in the $44 area. ottographs.com Traders will be watching to see if QQQ can break up and out of the pattern. ottographs.com Here is a close up of the pattern in Candlestick view. After two narrow range days at resistance, the highs of two days are broken and on it goes to test the upper edge of the pattern. Swing traders have been long since Thursday, July 26, with August 39 calls. Trigger price for the long entry was $41.00. Price of the calls were about $3.20 at the time. Setup was a 2B test of bottom. Teresa

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