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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/22/2002 9:16:16 AM
From: Robert Klein	Read Replies (1) of 787

How low can the Naz composite go? The bullish percentage point and figure chart suggests a fall to below 30% bullish charts is likely (when falling from above 50%) before the market reverses. We have a long way to go to get there: stockcharts.com[w,a]daclniay[df][pb20!b30!f][vc60][iLf!La12,26,9]&pref=G Also the VXN remains too low to signal a bottom. On Feb 19 the put volume on the QQQ's was the 7th highest in history, and according to Schaefer this seems to represent smart money since the QQQ index has generally dropped during the 5 and 10 day periods subsequent to these mega-put index days.http://www.schaeffersresearch.com/sentiment/observations.asp?ID=4884

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