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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (37785)	6/13/2001 11:13:39 AM
From: Dealer	Respond to of 65232

NASDAQ Composite--Ed Downs edowns@nirvsys.com Like clockwork, the NASDAQ zoomed down to the 2,100 level (pushing through very briefly) and then rocketed skyward, as if an invisible market elf was saying "no! don't do it!" Of course, the "elf" is the market participants. Since 2,100 held, and the market did NOT break down through it, we have to assume the NASDAQ is headed to the upper boundary at 2,400. For this reason, I would be a buyer above 2,175 and a seller below. If we stay below this level and fall back through 2,140 we are likely going to go through the low, and head on down. The OEX performed a high dive act today, rising to touch 650 and then retreating. That is the critical level on that index. **