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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

+1.0%

4:00 PM EST

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To: Johnny Canuck who wrote (36829)	4/24/2002 3:27:11 PM
From: Johnny Canuck	Read Replies (3) of 68173

[RumorDude] Wed Apr 24, 10:47am PDT LU This chart still looks a bit nasty but is shaping up. Needs to clear and sustain itself over the 5 level (and 50 day EMA, just under 5). Lotsa CNBC talok about how this was the first to fall but maybe is the first to recover. Buy to open Oct 5 LU calls. [RumorDude] Wed Apr 24, 10:45am PDT WBSN Huge gap and spike up on heavy volume. Will need to consolidate here to break the downtrend line, but it's cleared the 200 day pretty well. none Register for our newsletter [madtrader] Wed Apr 24, 8:53am PDT AOL Okay, I came across some piece that suggests Time-Warner of AOL is worth more than $20 alone, and the market is essentially saying AOL is worthless. Tough to imagine a business that generates more than $2 Billion in cash is considered worthless. I haven't been a fan of this stock mainly due to lousy technicals. At this price level and based on the price action today, I am willing to stick out my neck and say AOL have seen it's lows and we are probably not going to see this low for a long time. The bullish engulfing day we have thus far, plus the various positive divergence I am seeing here is clear enough evidence for me. Time to go long on this one here.

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