P&S and STO Death Blow's Message Board

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

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To: Jeff who wrote (4358)	7/29/2002 6:07:09 PM
From: ajtj99	Read Replies (1) of 30712

Jeff, we've had 2-days in the past week with this t-q, I believe. Either way, I believe today compares more favorably with July 5 than July 3, as July 3 was a reversal day and the 5th was a follow through. I think if we do get the high, we'll get it early in the day, then we drop. Max Pain is at QQQ 23-24, so we don't have to ramp from here. That kills some of the options ramp comparisons. We can drop to QQQ 21 to kill some calls and rise up to Max Pain for August expiration. SPX August Max Pain is 900-905, which is well within reach if they take us down from here for another test of the pivot low last Thursday. Bottom line, Max Pain will act as an anchor or a magnet for prices whichever way we go from here (down is your bet and mine). I also got back in USPIX at the end of the day for my retirement account. A nice discount to the sale on Thursday. I see this capped at NDX 975-980 tomorrow. 980 NDX is strong resistance. I think fair value is around 958 tonight, so they'd have to have a gap up around 23 points to get over it. Not likely after today, but I've been surprised before.

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