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

To: Zeev Hed who wrote (11670)2/24/2001 12:06:22 AM
From: pressboxjr  Respond to of 30051
 
Monday is a critical day, IMO. Any break of the lows set today and "Angell's" comments were nothing more than just blowing smoke.

Zeev, I thought the Nas would test 2139 today, but was off by just a "hair". I must have had an itchy finger the night I drew those extended lines......LOL

Oh well, can't win them all.

Took CIEN to bed with me over the weekend hoping for a gap fill at 85-86. Time will tell.

Looking for a bounce back to the 2500-2600 area and the SOX back to 960 or so, give or take a tad.

Will re-evaluate the indexes at that point.

Although the Fed fund futures pricing in an inter-meeting cyt and 100% chance at March meeting, I'll believe it when i see it.

On alert as always........and ready to swing, whatever way.

JR

P.S. Any thoughts on the "hammer" that was formed on the SOX?



To: Zeev Hed who wrote (11670)2/24/2001 9:42:44 AM
From: Crimson Ghost  Read Replies (1) | Respond to of 30051
 
Zeev:

My XAU take is quite different. Flight from tech not the main reason for the bounce. If that was the case the XAU would have sold off when the market bounced, but it held most of its gain. Gold stock strength reflects the surge in lease rates and rumors that some CBs will soon curtail lending -- a key force behind the big gold bear. The prospect of a significant drop in the dollar as the Fed continues to cut also is a big factor


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