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Strategies & Market Trends : AL is Not a Human Being
QQQ 611.67-1.9%Nov 6 4:00 PM EST
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To: High-Tech East who wrote (650)10/15/2002 7:02:20 AM
From: Steve Lee  Read Replies (1) of 793
 
I think that Monday's high as a congestion point can no longer be a congestion point once the proice has passed back thru it.

If we gap up and then drop back to just above Monday's high, it might make sense to buy for a trade, believing the congestion point will hold. Once it breaks thru tho, that is not a sign of further down, it just means that the price point has ceased to be relevant.

Gotta remember also this is expiration week so support and resistance don't work as well as in other weeks.
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