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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (46484)	4/15/2000 12:29:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

Actually Jill i looked at the QQQ on P&F and 73/74 is the bottom here...it would equate to the Oct lows of last year... so my guess would be a slam on MON am, 200-300 then a major league rally into Late Apr thru earnings season... yes of course i buy puts, but i'd rather short something first... good luck on your trade..either way..and maybe both ways<G>

To: Jill who wrote (46484)	4/15/2000 2:20:00 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

Jill, The data, I believe, for the QQQ on SI's charts in in error. If that chart is right, I support your conclusion, but my data (a couple of different sources) shows the low of 04/04 as 88.3125. The hammer (on 4/4 on the QQQ/NDX/COMPX) was taken out and so convincingly that the normal course of action for professionals will be to sell rallies. Anything could happen, but that's what I see coming down the pike. The big question is do we get a short term rally now or not? intelligentspeculator.com A hammer such as 4/4, made on high volume, should hold. That it didn't is very telling for the tech part of the market in my opinion, and frankly the old economy side isn't looking any better, just different. I think the odds are currently higher in favor of more downside.