Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (20027)	7/8/2001 6:52:13 PM
From: James Calladine	Read Replies (1) \| Respond to of 30051

NAZ FUTURES: You haven't seen the Monday morning warnings, yet, Larry! However, there should be a good quantity of "happy days are just around the corner" items from the industry spinmeisters..... I don't think we're heading non-stop to 1850. After all, there are going to be some positives in the earnings, but I think the overall "future" prognosis is going to be devastating, or disappointing, or not provided. I don't think that is going to be very satisfying to those who otherwise might be inclined to "buy on the dips". However, once we hit 1850, the mood of pessimism ("maybe we are going to make a new bottom.....") could take us right down to 1600's again, with not much in between. I think there was more "hope" in the 1600's last time than there will be this time. Anyway, it should be interesting.Presently 85% cash, shortly to be 100% cash once again. Namaste! Jim

To: TREND1 who wrote (20027)	7/8/2001 8:07:15 PM
From: James Calladine	Read Replies (1) \| Respond to of 30051

Larry, Naz futures down 13 now--do you feel more comfortable? Also we still have to register the reaction of the Asian and European markets. If they were not entirely thrilled by US Friday markets, I think they will register their point of view! Namaste! Jim

To: TREND1 who wrote (20027)	7/8/2001 8:07:50 PM
From: ajtj99	Read Replies (2) \| Respond to of 30051

Larry, it looks more like futures now down 14, but it is still too early. Evening futures are entertaining, but for tomorrow the more telling catalysts will be the response from the international markets to Friday's close (down, most likely) and selling by retail investors. Also, shorts that covered before the holiday break could be back in play. The more telling futures are at 7:30AM and 8:35AM, IMO.

To: TREND1 who wrote (20027)	7/8/2001 8:21:56 PM
From: ajtj99	Read Replies (1) \| Respond to of 30051

By the way, I don't know what limit down on the NDX is (I think it's 80 or so), but I can't remember the last time pre-market was more than say -42 or +42. Is there a limit on pre-market that is different than other times? Anyway, I'd say a pre-market -42 is quite likely tomorrow. That equates to roughly -50 on the COMPX, which means we may hit the support at around 1945 towards the lower unfilled gap up from April 18 (1923-2005) shortly after open tomorrow (sorry for all the prepositional phrases). After 1940, there is not substantial support until 1850-1870, and most of that is at 1850, IMO.