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To: IceShark who wrote (26842)10/11/2000 12:47:17 PM
From: AllansAlias  Read Replies (1) | Respond to of 436258
 
Covered the long. Might see some consolidation here.

If the NASDAQ were to give up the level it tested this morning (-100 points or so) it would have been almost unthinkable the size of the air pocket it would enter. This morning's support came from the 1999 shelf -- rising support off those 1999 lows. Most people concentrate on horizontal support. This is a wrong-headed approach.