P&S and STO Death Blow's Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : P&S and STO Death Blow's

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: LTK007 who wrote (2267)	6/13/2002 8:39:57 AM
From: h8_2_b_l8	Read Replies (1) of 30712

No, not very impressive in any sense. I don't think the charts on the QQQ's said much for the short term but the volume speaks volumes. If that was indeed short covering (and maybe even a lot of short covering from our last 1759 top) that's just one more element the longs do not have now to support the market. Even if it wasn't and that was a lot of longs jumping into the market we now know that once yesterday's low is broken we can expect a steep acceleration, just like Jeff's little handy roadmap said would happen. I think besides yesterday's P&S on the NDX this was a second good validation point of where we will eventually land and at what pace we'll get there. Now the $64 question is how much of a bounce is all that volume good for? Should be good for something. 1555? 1596? 1610? 1638? We can even hit 1650's and still hold our pattern, and you never know with mp and the fact that this is it, eveyone's last chance to distribute and reposition for the next 6-10 months. The big tug-of-war between traders seems to be June 28 high or low? Hahn's has been calling for that date for damn near a year now, I see Zeev also has it, Carpino has it. You know the saying when everybody knows something.........

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next