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

To: Sully- who wrote (37789)	6/13/2001 12:53:55 PM
From: Sully-	Respond to of 65232

From: Drbob512 Wednesday, Jun 13, 2001 12:37 PM *** TA Update (intra-day) *** The markets rallied modestly on the heels of yesterday's late day rally which prevented a sharp decline for the time being. As mentioned in prior TA updates, this choppy market has in reality lost bullish momentum but has not been able to accelerate to the downside to this point. Instead, we are slowly and choppily working our way down, as a majority of stocks have trended downward in the past 4-6 weeks. The Nasdaq TRIN is a neutral .90, with a/d of 6/5, up/down volume of 4/3, on overall volume of 750M shares, which projects to around 1.6-1.7B shares, still moderately light. The 60 minute TRIN stochastic is crossed down but the 30 minute is crossed down but the d is very low now. The NYSE TRIN is negative at 1.25, which belies the positive a/d of 17/12, up/down volume is 3/2, on moderate volume of 520M shares. If the Nasdaq a/d can stay positive, we can avert a sharp decline today, but watch it carefully if you are short or long as a daytrader or swing trader. While technical bounces are still occurring (probably as resets), the risk is to the downside as the declining trendline of the Oscillator rules the pattern still, and unless that changes, we are likely to accelerate the downtrend within a week. Ö¿Ö

To: Sully- who wrote (37789)	6/13/2001 8:03:07 PM
From: RR	Respond to of 65232

Hello Troops! Gone all day. What's this I see on da screen, RED? Oh, what's a little red to all the seasoned investors on the Porch! Off to the hammock to ponder. Later..... RR

To: Sully- who wrote (37789)	6/13/2001 9:20:36 PM
From: RR	Read Replies (2) \| Respond to of 65232

Hi Tim: I'm about 97% cash since closing the puts. Long QQQ leaps, and long that small short term position in JDSU calls. Added more QQQ leaps today. Not much. Just been adding to that position a little on dips along the way. Bought few more JDSU July calls today, but again, that is just a small position, playing for a bump is all. Like I told Jill last night, I wouldn't be surprised if JDSU tested it's 13 area low. Also, this week is playing out about like we discussed a few days ago. Expiration week. Lot of techs were above their pain point. Consequently, doesn't alarm me to see them be pulled down before Friday. Suspect some of the option positions will start to unwind if they haven't already started today. Have not checked any technical data this evening yet. I was gone all day so really didn't even watch the market. Checked in by phone a couple of times was all. Patience, I tell myself. Patience.... make it come to me. After this expiration week, careful. Warnings galore. So? Should be expected. But, more and more stuff coming out about businesses getting killed, more layoffs, just a lot more bad news closer to home kind of stuff. RR