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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (10559)	1/26/2001 5:51:41 AM
From: GTC Trader	Read Replies (1) \| Respond to of 30051

Zeev, If I understand your turnips correctly, a logical strategy would be as follows: 1a. Hold longs until Tuesday and sell them before AG speaks or 1b. Sell longs at open today, buy them back when market turns up, and then sell them again Tuesday morning. 2a. Hold shorts until February debacle or 2b. Close shorts when market turns up today, then re-short Tuesday morning, and hold for February debacle. Does this seem reasonable to our friendly little vegetables? Am I understanding them correctly ??? 8 - ] <GGG> TIA - HB P.S. You say that Nazzy might wake up today under 2700. The 20-day simple MA is at 2600. Wouldn't this indicate that either Nazzy bounces off of 2600 (maybe closing ~2700, or plus for the day as you suggest) OR 2600 is breached and we hit 2500 which happens to be where the descending top trendline is now, plus 2500 matches the low for November, plus 2500 was significant resistance/support for the first 8 months of 1999, plus 2500 is a 50% retracement from the double-top at 5000, and plus 2500 is a round, and thus psychologically significant level? 2500 would also be a drop of ~10% in one day, matching the record 10% gain that we had recently. I think that we should be ready for either scenario.