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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: dli who wrote (8376)	12/9/2000 9:18:14 AM
From: Atin	Read Replies (1) \| Respond to of 10876

All I do is what the chart says to me (it might say something completely different to you :) ) -- we formed a decent bottom, and ideally we will test it around here. On the $NDX (http://www.stockcharts.com/webcgi/Pnf.asp?S=$NDX&N=B&T=on), 2550-2650 doesn't seem out of the realm of possibility and I might stretch it a little and say if it gets below 2700 I'll take it. If it does get there, I will buy when it crosses back over 2900 because I think 2900-3000 is where it needs to get over and stay for the trend to change to up. If it falls below 2450, I will buy the cross back above 2450 for the same reason except I would consider that a lower risk entry and would get in earlier. So I am actually hoping for some tankage -- it would make the bottom feel more solid. -Atin

To: dli who wrote (8376)	12/9/2000 9:19:18 AM
From: Poet	Respond to of 10876

Hi Dave, I think what's most worrisome is that the Friday night decision opens us up to more legal wrangling and delays and significantly reduces the likelihood of a Gore concession speech this weekend. Personally, I think the Naz looks to have bottomed and wants to rally, but the election stuff dragging on will dampen any momentum we've managed.

To: dli who wrote (8376)	12/9/2000 1:40:50 PM
From: hobo	Read Replies (1) \| Respond to of 10876

I'll throw my .02... ------------------------- bigcharts.com. Take a look at the chart it does look as though we are trying to change directions.... However.... Once +DMI crosses over -DMI (first signal) that positive change is coming... it NEEDS to be confirmed by the adx line turning up (The lower the ADX line is and then turns up, the stronger the "change of direction is supposed to be"). In addition, RSI just touched the 50 % point (good) look at the moving average and the bollinger bands... if we pierce 3,000 it may be an even stronger sign but i reckon that 3000 will be quite a resistance (I do not have the fibonacci lines drawn on this chart but it would pay to review them to see other resistance levels. From what I recall 3000 is resistance under fibonacci as well. Still... the big monkey wrench is the election issue until resolved... no clear sailing yet. Even if a change to the positive is in the cards, there may be some bouncing still, which may carry us to the end of January. Finally, to resolve this to the upside 2 things need to happen: (in my eyes) 1. Election gets resolved 2. Greenspan comes to the rescue with an actual interest rate cut