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

To: Poet who wrote (10627)	4/24/2001 8:18:38 PM
From: t2	Respond to of 10876

Poet, Thanks for the encouraging words. I wish I had studied some TA. All during the late 1990s, all I learned was about momentum and earnings runups and then selloffs. The only thing I can think of is that we approached 2000 today, a level which is psychologically important to many who believe the Naz may have bottomed. A breach of 2000 would, IMO, put a lot of fear back into the market for a retest of 2001 lows. Technically, this would be a good thing. I don't think the average investor sees it this way, though. I guess traders wanted to get ahead of the breach of 2000 on the Nasdaq. I sense the fear factor now---from a long's perspective. The potential is there for a lot of people (traders) to throw in the towel if it gets below 2k. It will shake (investors) confidence if it closes below 2000. Of course we are unaware of how many mutual funds or retail investors are waiting to get long at lower levels..and of course how many shorts will be covering below 2000 and going long for the next move up. Maybe another day of a high VXN and the Nasdaq staying over 2k may be very bullish and we won't see a drop down to the lows again. Value funds have been getting into tech and probably more still want in especially as the old economy also starts warnings of profits. The Gillette, P and G are not doing much either and we possibly see value managers picking up a larger tech weighting--another factor that could support the market. Somehow I get the feeling it drops anyways, even if for only a few days. No real confidence either way on the move in the Nasdaq. On the bright side a bounce back up from the lows will provide the best opportunities to make a lot of gains on just buying QQQ calls.

To: Poet who wrote (10627)	4/24/2001 8:19:39 PM
From: t2	Read Replies (1) \| Respond to of 10876

Does anyone have a good site for charting Put/Call ratios; Vix; vxn. A site with commentary might be even better. Thanks.

To: Poet who wrote (10627)	4/24/2001 8:29:34 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 10876

honestly, I don't see how you could be whipsawed today/ I know you don't use a trading platform like Qcharts...well you should...I assume you have real time quotes for what you watch... the rest is just interpretation of the market...I try to think for myself always right or wrong....I just try to interact with others on SI...but, am often pissed doing so<g> I don't know anyone who is always right about market direction or timing and I have been a member of SI for 5 years. I don't know anyone I would trust at all...no one! I know about 100 individuals who think they know more than everyone else...but, I watch them struggle everyday just like us. I'll manage my own money thankyou, and live with the consequences.<g>pay for stock advice or trading calls in a trading room or by email? LOL...no way...if I was paid, my picks would be much better!