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

To: ajtj99 who wrote (20853)7/18/2001 2:02:24 PM
From: ajtj99  Read Replies (1) | Respond to of 30051
 
After looking again, it seems we bounced for no reason at all it seems. We're drifting down again also, but I believe we need to get up for IBM tonight and Max Pain on Friday, then we can go into flush mode.

In edit, 1643 seems possible on the NDX, and maybe that's where we're heading. That would be a Fib re-trace, but it's in the middle of support levels, so maybe we're going to bounce due to the COMPX.



To: ajtj99 who wrote (20853)7/18/2001 2:14:37 PM
From: Jdaasoc  Read Replies (1) | Respond to of 30051
 
NDX bounced at 1664

I am still watching MSFT as NAZ proxy. I am fairly confident that MSFT will meet all estimates and is clearing the books of all bad stuff RE investments in 2Q because 3Q is going to be better than expected IMO.

I am closing last Jul NDX short position before close tomorrow since I don't think it would not be wise to be in the path of MSFT led rally pre market on options expiration day.

john


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