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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (8079)	7/7/2001 2:57:43 PM
From: James F. Hopkins	Respond to of 19219

Right JT; I caught your correction and thanks too. Like you I think we also need to watch the non Dynamic flow for conformation ..and when we see it in both places then make a move. With the NDX I often leg in using the QQQ.. with the SPX I do it via the spy..just to lock in an interday NAV if I think the end of the day is going to change much from where it's at. I don't always get it right but most often I do and can change my mind in heart beat. Sometime back I was going in the UOPIX ( velocity type ) and from the time I put in my order at 2pm to the close I saw one big reversal to the upside, Oh no I said they just bought the crap out of this fund..and I'm going to get shafted, and I was too late to back out or even leg in So what the hell I just shorted twice as much QQQ right before the close and that in effect made my buy neutral, and left me the same as boxed. I stayed in the box for a long time but finally caught a big late day sell off that I closed my short on. --------------------- SPX still looks like it could have more downside to me, as does the NDX , however the NDX looks a tad oversold as it is, but still not as much oversold as I would like it just the same I'm trying a small bunt on her. Jim