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Pastimes : QQQ & DIA - chat & chart

QQQ 611.67

-1.9%

Nov 6 4:00 PM EST

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To: q39 who wrote (519)	4/23/2003 2:10:59 PM
From: Jon Khymn	Read Replies (4) of 795

Hi, q39 thanks for stopping by. I'm guessing the reversal is due on Friday or next Monday not Thursday. (If Nas goes higher, Thursday will be my last day of adding short/put position) I've been pretty lucky guessing a MAJOR turning point in the past few years. As you know this is guessing game and no one is right all the time. So to answer your question, I really don't know, just guessing. But, here are few reasons for my guesses. 1. Long term chart points out the market needs to go down further and consolidate more before it can move up again. (My guess is around Nas 1000s, and rock bottom will be 900s) So I'm not talking about 100 points swing but a major down turn which will last at least 6 months. 2. Vix and Vxn are nearing the bottom, which is a very reliable indicator when these are at EXTREME points. 3. In the past I've been usually one week too early in shorting, so if it repeats itself, we'll just might get it again this time <g>

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