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

To: LTK007 who wrote (9804)	2/28/2001 8:49:25 PM
From: Poet	Read Replies (1) \| Respond to of 10876

Hi Max, Yes, I'm aware of that 1800 or so support level and it doesn't look tremendously impressive to me either. Here's what Hahn had to say about the Nasdaq's move yesterday: There was a sharp increase in volatility, today. The volatility index for the NASDAQ 100 ($VXN) is plotted as candlesticks versus the line chart of the QQQ's closing value. The QQQ's fell by $3.15 today to $49.00 as the $VXN rose $2.54 to 73.45. The QQQ's closed at a new record, all time low. The volatility index (VXN) is showing higher levels of fear, but considering the QQQ's broke to all time lows, the volatility has not reached levels normally associated with market bottoms. We're looking for a spike and reversal in volatility as a sign of a short term bottom. I am waiting for that high-volume whoosh (a/k/a flush thingie) .