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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (27885)	1/14/2002 11:35:44 AM
From: marginmike	Read Replies (2) of 209892

This down move is very reminiscent of dec 30-31st down. Its on low volume, and is backing VIX up. I think this is a set up for the bullish case here. I went long Qcom on friday, and believe we will rally through earnings, and into feb. I do believe a trading range is being formulated here with the top at arround Dow 10200 and nas 2100 the bottom should be around 9500/ 1900 but id like to see where this selloff ends to be more sure. I believe this tight range holds until false brake up leads to down. I am now convinced that VIX and sentiment wont get really bullish unless some time gets us more complacent. There is nothing like a trading range then a break up to get everyone on board.

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