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

To: Atin who wrote (8377)	12/9/2000 11:39:39 AM
From: dli	Respond to of 10876

Atin, I totally agree as far as a change of intermediate trend is concerned. However, I also see a chance that we may just enter a prolonged trading range in the NDX 2600 - 3000 area. Given the fundamental backdrop, I doubt we'll see a V bottom à la 1998. What I picked up yesterday after hours is speculation on a momentary overreaction in the wake of breaking news and I intend to flip it Monday morning. I definitely would not mind a retest of the lows to add to my longer term account and I fully expect such a retest, but did not expect it to happen until early next year. I've already loaded up on some telecoms and semi equips on our first trip down into the abyss and I'm up 25% to 40% on those now, but a second chance to scoop up some bargains is always welcome. I'm glad I did decide to write calls on some stuff yesterday. Dave