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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (416)2/17/2001 1:50:15 PM
From: eddieww  Read Replies (2) | Respond to of 52237
 
JRI:

It seems to me that everyone knows the importance of 2400 by now. It has been discussed on CNBS, CNNfn, Bloomberg, and many message boards like this one. If I were head of the trading desk at one of the bigs (MER, LEH, GS, JPM, etc.), and I believed a strong rally was due soon, I would be on the phone with my buddies/counterparts this weekend to arrange to gap compx below support on Tue to get the j6p technicians to panic and dump. It's got to be a lot cheaper to gap it down than it is to trade it down through strong support. -g-



To: JRI who wrote (416)2/17/2001 2:02:07 PM
From: Joseph Silent  Read Replies (1) | Respond to of 52237
 
JRI, Don ... I have a question...

In general, with these support lines, how common do you think it is for it to be breached by 2,3,4,5 ... points;
I mean is there some room for "error" up to some percentage?

I am wondering why it would have to hold hard and fast. I know this is a lot to ask, but does anyone know of any stats on what happens around such support lines, in terms of small (and thus, perhaps acceptable) breaching?

Thanks,

Joseph


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