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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (3257)5/23/2000 4:00:00 PM
From: Lost to Voodoo  Read Replies (1) | Respond to of 19219
 
The siren call of 2900 (NASD) beckons.



To: J.T. who wrote (3257)5/23/2000 5:13:00 PM
From: Area51  Read Replies (3) | Respond to of 19219
 
Hi JT,

I'm drawing my line in the sand at NDX=3000 (closed at 3023) on a closing basis. I'm thinking I will cut my NDX exposure and possibly selling QQQ short (if available?) if 3000 is violated. Good idea ???

The NDX has two support lines converging around the 3000 level:
The line connecting the bottoms of October 1998 and October 1999 currently at 3016, and the line through the upper bound of 1999's trend channel currently at 3033.
community.metamarkets.com

Best Regards,
Area51



To: J.T. who wrote (3257)5/24/2000 4:20:00 PM
From: J.T.  Read Replies (1) | Respond to of 19219
 
Rydex. I have switched back to 100% Long NDX OTC from Money Market.

I was unable to get to a computer before the close. We will attempt to get back on the right side of this market whipsaw. I think tomorrow we can have two in a row (upside closes)and bottom is in at least for now.

I will comment more late tonight.

Best Regards, J.T.


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