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To: JRI who wrote (224)4/19/2001 9:36:10 AM
From: Poet  Respond to of 209892
 
Yup, zactly.

But I'm as lost as anybody else. Hell, I just bought OEX calls.



To: JRI who wrote (224)4/19/2001 9:38:13 AM
From: AllansAlias  Read Replies (3) | Respond to of 209892
 
Not a strong open really.

The question for me here now is to decide if tech has already turned. Recall that we are saying it's probably in the last leg of the entire move off the bottom, but we thought it likely that it had one more push left in it.

IMHO, this is probably jello-sloshing. The giving yesterday afternoon was probably the start of a corrective wave in this last 5 leg we've been talking about, probably a 4 of 5. If so, then one could expect it to trace out an a-b-c, when the 'a' is yesterday's down move, the 'b' is perhaps this morning's pop, and now we get another downmove, the 'c', before attacking the previous highs.

edit: Note, this downmove could go quite deep before the next up-leg starts, if that's what's up. This is the sort of thing that sucks in some new shorts. I am not falling for this here -- too early for me.