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

To: Zeev Hed who wrote (15589)	5/9/2001 10:12:39 AM
From: ajtj99	Respond to of 30051

Zeev, I think buying the dip is dangerous, but for different reasons. I closed my QQQ May 46 puts this morning for a small 10% gain since Monday. The trading range on the COMP is narrowing. It is now between 2140 and 2205 or so. There is not too much room to make money on the upside this week, IMO. This morning I thought the market would be propped up to stay above 2140 to stay far away from 2120, which is too close to 2095. Selling is getting pretty intense whenever we get near or above 2200. I think this is a time bomb that is ticking, and AG will light the fuse next Tuesday for the big drop. We have a gap to fill at 1923-2005, and the resistance at 1923-1941 is pretty weak. I expect 2000 to hold until options expiration, but we should drop after that.

To: Zeev Hed who wrote (15589)	5/9/2001 11:25:49 AM
From: Rich1	Respond to of 30051

Cycle guy had a double low the 8th and the 10th..If this is it not much... we are going higher IMHO...