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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: bcrafty who wrote (14377)	11/16/2000 11:05:00 PM
From: the-phoenix	Read Replies (2) \| Respond to of 100058

Covered RIMM and DIGL shorts today, probably too soon. Never cut your profits short, is the rule. Will be looking to go long RIMM at the open on any gap down, for a gap fill / quickie half hour play to the upside, as it keeps getting early buyers before the sellers take over and the hourly stoch is presently 0.00 and hourly Williams %R is 100.00. On the Nasdaq, my guess for tomorrow is that we fill the gap at 2960 and then reverse again to the upside. Have a couple longs that I will be looking at in that eventuality, but will put most of my capital on QQQs long. I expect tomorrow to be THE bottom retest before we head back toward 3500. Hence, I anticipate a 10%-15% gain on QQQs over next 2 weeks or so. I really like the morning doji star pattern that formed on the NAZ this week, coupled with a low very near a number of harmonic fibonacci numbers that all converge in the 2800-2900 area. An O'Neill followthrough day is due tomorrow or Monday, I believe. At the risk of further amusing FLACK, the pattern that formed on the NAZ over the last month is a bullish butterfly pattern that is a very strong reversal signal. This further confirms for this chartist that the bottom is in and we are just doing the inevitable retest thing here. I do not expect a capitulation or selling climax. Just my rather rash and strong opinions, of course! Do your own TA. Phoenix