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

To: LTK007 who wrote (44300)	6/19/2001 4:54:29 PM
From: furrfu	Respond to of 56535

Our Warning du Jour brought to us courtesy of TLAB. Thank you, TLAB. Doug

To: LTK007 who wrote (44300)	6/19/2001 5:19:37 PM
From: LTK007	Read Replies (2) \| Respond to of 56535

CSCO down 30cents from closing price of 16.64.

To: LTK007 who wrote (44300)	6/19/2001 7:09:18 PM
From: ajtj99	Read Replies (1) \| Respond to of 56535

Max, I remember 41.50 as pretty fair support on the QQQ. I think it equates to around 1650 on the NDX. I also remember 1575 as another stopping point, which is about 39.80 to 40.00 on the QQQ. It was not too strong going down, but really weak going back up. We blew right past it. Below that we have 37.00-38.00 level. That is about 1470 to 1535 on the NDX. I imagine we'll get a small bounce at 40, since the COMPX will be around 1940 then. However, I don't expect more than a .378 Fib re-trace of the move down from 2057 (if that holds as the local high), which would stop us around 1985 on the COMPX. That would put the QQQ around 41.00 to 41.40 (Sometimes it gets ahead of the NDX), IMO. 50% Fib re-traces seem pretty hard to come by right now on this move down, and .618 seem downright impossible. By the way, what do you think of the gap from 37.05 to 37.90 on the QQQ in early April? Was it filled in your mind on the intra-day drop to 37.78? I think it's a gray area. Maybe you have a chart that could pull it up and see what it looked like intra day or hourly. It might have been a stop loss taken out or something like that.