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

To: macavity who wrote (5739)	12/22/2000 11:30:57 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

mac, It is going to be a streetfight and if you buy in the next few days good luck to you.* I need to see a nice reversal pattern* Yesterday the market gave you the perfect opportunity to get long as it moved up hard early and gave up the gains atthe bell and today I am a lucky guy Nasdaq up over 150 +. Market wanted to hold the gains yesterday and when the selling exhausted itself in the last hour the only trade was up. Now today before the bell I am blowing out of this NDX long position and locking in this 5%+ gain in the NDX OTC. Last time I tried to get greedy was day after Thanksgiving on that Friday was solid gains. On Monday they gave it all back. Now I know I should remain long thru the next trading day on Tuesday the deck is stacked long and probability high it will close up but I have learned it well and all too often book em danno and move on. Lets see if you get any after market close midnight negative surprises... maybe IBM warns. I will move back to 100% Long XAU Precious Metals before the bell tonight. As for VIX - it is an imperfect art to read into vix a certain level before the counter-trend bounce like today emerges only need to look for the zone and yesterday vix was in the zone. Best Regards, J.T.