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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (44181)6/17/2001 11:11:02 PM
From: ajtj99  Respond to of 56535
 
Cycles, stochastics, Fib Retracements, and other indicators seem to point to a small bounce the next couple of days. I believe we'll top off Tuesday, others say Wednesday.

Either way, the puts I bought when the QQQ was at 42.65 aren't going to be getting too much cheaper. Maybe $0.50 or so. Whatever. The risk-reward ratio isn't compelling enough for me to play that game.

I'm staying Put this week and I'm going to watch the carnage unfold after Thursday's B2B report is released.

Furthermore, the more I'm reading about the Fed, the more I believe they'll do only 25BP, and the market won't like that.



To: LTK007 who wrote (44181)6/18/2001 7:49:23 AM
From: ajtj99  Read Replies (1) | Respond to of 56535
 
Max, the logical reversal point for the QQQ in a couple weeks is the April 9-10 gap from 37.05 to 37.90. My guess is that gap gets filled on the high side, and we go up for a 50% fib re-trace to the corresponding high when the COMPX hit 2264.

That's what I'm playing for right now.


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