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

To: Zeev Hed who wrote (14615)	4/17/2001 9:58:24 PM
From: ajtj99	Respond to of 30051

It looks like tomorrow could be it for this week with the NDX. After INTC, we've got IBM Wednesday and MSFT on Thursday. MSFT's business is pretty predicable, so not any surprises there expected. IBM is a wildcard, as their guidance leaves no room to disappoint. Anything other than rosy scenarios will be sold, IMO. That could kick the indexes in the rear on Thursday. That's why I'm thinking the closing high on the NDX this week could be tomorrow. I'm not really willing to bet that the NDX will follow the COMP's poorer cousins up the rest of the week. I've been playing QQQ April calls for a month, and have been pretty fortunate the past 10-days, almost doing the channel thing to a T. If the QQQ's hit 41-1/2 on a Thursday swoon and bounce, I'll be completely befuddled about what to do, unless the COMP still is showing strength from the small and midcaps. That might have me do a straddle trade on QQQ May 42 calls & puts. I understand your opinions on Max Pain, and it may not apply to large caps like MSFT (actually, MSFT lately seems to be closing above it). However, it seems to work often enough that I need to respect it. I'll be watching AMAT and the SOXX closely. SMH looks ripe for puts even this week.

To: Zeev Hed who wrote (14615)	4/18/2001 12:24:07 AM
From: Pink Minion	Read Replies (1) \| Respond to of 30051

Wondering how low you see the SOX going? I get a kick out of how you're my bull when everyone else probably has you as their bear. I have the SOX going to 300. AMAT is still priced like we're at the top of a cycle and MU should be a $10 stock. TA Question: I see AMAT breaking through its downward channel right now(from its last March and Aug highs). I was wondering do you give more credence to the recent resistances of 52 (Jan and Oct) than an older downward channel?