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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Gersh Avery who wrote (7806)	4/15/2005 2:25:34 PM
From: Walkingshadow	of 8752

As I predicted months ago, QQQQ has now hit $35---actually the low of the day so far was $34.87, with a V-bottom reversal, stochastic crossover from oversold territory, and supportive volume there: 139.142.147.22 Yesterday and now today there was substantial supportive volume. I think we are seeing the beginning of the bottom in the medium-term correction here, which means I anticipate a resumption of the long-term uptrend at any time now. 139.142.147.218 I just flipped from short to long. I don't expect much more downside from here, but there is a possibility we could remain down here for a while with some false starts (accompanied by a working off of the now limited residual resistive volume and a further accumulation of supportive volume to add to the pool) before QQQQ finally takes off. Again, I can't see much more downside here, so IMHO downside risk is very limited. We are sitting on very solid long-term support now. I would get all your dry powder ready here.... steal the kids' piggy bank if necessary. T

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