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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: eichler who wrote (79897)	7/10/2001 4:09:39 PM
From: Capitalist	Read Replies (3) \| Respond to of 99985

From my previous post: >>mid-1900s is where we should find support, looks like a very good chance of revisiting that level next week.<< Well, here we are...if we indeed overshoot the 1940 level, 1850 is the next stop. But in my opinion, that is the worst case scenario. Tomorrow should be interesting since the lull in news should mean we keep the downward bias, at least in the morning. If we do see a sell-off on the open, I'm planning on covering the last of my shorts, and will probably go with some cheap options on YHOO as a play on their earnings (they report after the bell tomorrow). The reaction to YHOO's earnings report will be an important indicator on how investors are likely to react to later earnings reports. Cap

To: eichler who wrote (79897)	7/10/2001 4:20:51 PM
From: el paradisio	Read Replies (1) \| Respond to of 99985

Well,I always look at some major players,together with the support lines for the indexes... the gap COMPX 1940, NDX 1600 or QQQ 40 should hold for now. IBM is coming to the important support 100-101, AOL is holding support at 50, QCOM, is filling the gap at 59, DELL is holding above 25, SUNW is holding the support at 14, NT..is holding support (I use it for the performance of NWX). NWX broke down, but should recover tomorrow and I think this is the bottom for NWX. BGEN strong support at 50....and so on... Mid term, COMPX may test 1850 or lower...not now IMO Regards, el