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Strategies & Market Trends : Moufassa's Lair

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To: DebtBomb who wrote (2651)	12/13/2001 10:37:34 AM
From: Tradelite	Read Replies (2) of 13660

Here's part of a trading opinion I just received in email, for what it's worth and for anyone interested: NOTE THAT THERE APPEARS TO BE A MISTAKE IN DESCRIBING THE NUMBERS FOR THE NAZ AND S&P---they appear to be transposed. __________ <<Clearly, the market has gone back into its original consolidation range prior to the recent upside run. While this makes it very difficult to predict the direction of the next move, it does clearly define the trigger points for the next move (be it up or down). On the S&P 500, the pivot trigger points are 1889 and 2066. On the Dow Jones, they are 9691 and 10170. And, on the Nasdaq Composite, they are 1125 and 1174. Investors should observe and honor the range breakout. Traders should take advantage of the trading range by buying dips near support and selling rallies near resistance. For our swing trading, we are currently short both the S&P 500 and the Nasdaq 100 Index.>>

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