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: exp who wrote (21485)	12/29/2002 10:56:53 AM
From: Justa Werkenstiff	Read Replies (1) of 30712

George: Re: "Justa, by explosive rally do you mean one that takes NDX above 1053?" Yes, quite possibly. It could last as little as one or two days and get us there and could start from lower levels. My guess is that the band is from QQQ $24.15 to QQQ $26.80 or around NDX 1066. Do we have to get that low? No.... Re: "What do you see as the principal driver of this prospective rally?" New Year (sell it to the masses) with inflows and an oversold state reaching extremes. Re: " ... while we are oversold and in a downtrend for four weeks now, I am not sure about a rally before we hit lower BB at NDX 973/COMP 1320." Lower bollinger band hit is not necessary but looks like a good target. Re: " ... looking at QQQ call/put OI, it seems that QQQ 24/NDX 970/COMP 1315 should be the floor for the time being." Good point. Re:" ... 50/20 sma at NDX 1031/1041 might provide some resistance though." You get the boat loaded with enough shorts, then this resistance might get popped temporarily.

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