Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (64721)	7/13/2003 10:38:36 AM
From: Real Man	Read Replies (1) of 94695

We'll see what earnings bring. These markets are lined up for a decline, although they have not confirmed it yet. A confirmation is needed at this point. Earnings season may do it, or not. Next week is options expiration, and put open interest is high, so chances of a sharp decline are low. However, if we do decline, based on earnings (next 2-3 weeks), the put OI will help to accelerate it. The way I see it. A sharp decline of NDX to 1150 or so would confirm that the trend has changed. A break below 8900 for the dow would mean 8400. Where are we going? 7400 minimum, then. Very likely new lows and 6200 on the DOW.

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