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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: TechTrader42 who wrote (34715)4/23/2002 7:37:33 PM
From: ajtj99  Read Replies (1) of 52237
 
Brooke, I said put/call was relatively high at 0.69, but I meant to say it was low. This is a mid-range number. To get a low, we need to see .90-1.00 for the put/call, IMO.

Things are quite oversold, so we may get a 1-day relief bounce before the selling resumes. I am in no way convinced that this is our local bottom. TRINQ spiked down from yesterday's high reading, and that usually indicates a relief rally in 1-3 days if I recall properly. We might as well get it over with <G>. I doubt they can take out today's highs.

Looking at historical prices, NDX 1284 could work for some reason or other. Below that we have a pretty substantial level of support at NDX 1235-1242, around QQQ 31. I doubt the latter is seen until early June, BWDIK.
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