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


To: HairBall who wrote (48075)4/25/2000 4:43:00 PM
From: John D. McClure  Read Replies (1) | Respond to of 99985
 
I have a couple of TERN July puts in place to hedge my long positions in the OTC. Correct me if I am off base, but so far we have not violated the upper downtrend line from the second top in late March. If we do break through and hold above the trendline, do you see a possible retrace to the 4400 area going into May or will we pull back to fill the gap? TIA

Jed



To: HairBall who wrote (48075)4/25/2000 4:43:00 PM
From: r.edwards  Respond to of 99985
 
QQQ off bollinger bouncing,http://207.61.23.98/t/timelypage?fc=25&fd=1&fb=oex&fe=61&fh=2&fg=2&ff=4&fi=2&fj=200&fk=3&fl=20&fm=5&fn=50&fo=4&fp=20&fq=0&fa=qqq



To: HairBall who wrote (48075)4/25/2000 8:27:00 PM
From: Tenpole  Respond to of 99985
 
LG,

From a candlestick perspective, QQQ has given a morning star with a hammer as the star. The pattern is similar to the rare Abandoned Baby but with a hammer instead of a doji. Put that together with what in western terms is an island bottom (similar to the abandoned baby) and you have quite a classic reversal formation. Yes it isn't off the absolute bottom but it is off t/l.

T