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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (3662)	1/10/2005 2:00:07 AM
From: Walkingshadow	Read Replies (1) of 8752

Hi Reid, Excellent analysis, and I agree. AskResearch charts are fixed now, and show the same thing. Look at the early buy signals (I set the stochastics to 5-3-3): 139.142.147.218 I'd say QQQQ will have trouble at the middle of the BBs, which would be $39.51 right now (20 sma). The top of the "power candlestick" is a bit above that, but the previous candle closed exactly on $39.51. My guess is that QQQQ will reverse to the downside just above there, at about $39.60 or so. We'll have to wait to see how technicals/volume etc. develop, but that's where I would be looking to flip short. Right now I am still short. I wanted to flip long on Friday, but was away and couldn't. Futures are up a bit at the moment. I'll check things later, but my current game plan is cover and go long at the open, then look to sell (and probably go short) when QQQQ rallies, likely at about $39.60. Thanks, T T

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