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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (2220)	5/6/2001 11:45:28 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 5893

Hi Fred well you already know about me reading anyone else<G>... so my quick take is this...2250 is a double top breakout on the NAZ, it has immmedaite heavy R at 2300 the big breakdown area there, but if the mo mo continues here 2500 would be my upside target right at the bearish resistance line.. as for the VIX i see it setting up for a correction "IF" we get to 23ish on the chart...other than that?, we are backing and filling for the last 2 months, and the long side was the place to be pure and simple... we short scalped daytrades, but my big money was made on the long side...over the last 4 weeks... we have a Carpino cycle low running right thru next Friday starting Tues or Weds...but i do not think he's thinking a big move down...this senario has played out in front of the FED 2-3 times before...selloff a week or so early, and rally the week of the meeting and beyond... i am bullish for now till things break down..VIX---SOX...everything else looks very solid... hope that helps.. best juice