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

To: Zeev Hed who wrote (21245)	7/23/2001 2:47:04 PM
From: TRINDY	Read Replies (2) \| Respond to of 30051

Zeev, It is amazing to me that the "big lie" continues to hold sway and that this market keeps successfully overcoming attempts to drop much below 2000 for the Naz or 10,450 for the Dow. These are the Maginot lines and they continue to hold, much to my surprise. I'm beginning to doubt a slide here, although I think that fundamentally a large slide would be justified. Thanks for your continuing contributions to this and other threads.

To: Zeev Hed who wrote (21245)	7/23/2001 8:35:50 PM
From: ajtj99	Read Replies (2) \| Respond to of 30051

Zeev, great call today, especially the AM mark-up. After looking at the futures last night, it was quite surprising to see. The rest of the day was not surprising. I've only got QQQ August 42 puts right now, and I'm relaxing until we get below 1934. Then comes decision time, do I sell at 1900? I will if the NDX is below 1550. If we get there by Friday, I definitely will. Not going to wait for the last couple of points. Then it's call side for an expected bounce, then back to the dark side. Looking for a bounce to commence next Monday or Tuesday, and possibly end 4-5 sessions later. Without a catalyst to cause panic short covering, I agree that a bounce could go only to just under 2000. If there is a catalyst, it could be possible that the 2020-2030 area is touched. I wonder if MSFT has another release up their sleeve to rescue the market this time. Maybe something like, "Microsoft teaches Chimps to program software. Expected labor savings of $5-Billion initially, increasing to $10-Billion annual savings in 5-years." Scott McNeally would have to try to keep MSFT from cornering the Chimp programmer market, so he'd announce a consortium to leapfrog the MSFT initiative, propelling the market into not a bull or bear, but a Chimp. I think I'll go take my medication now <G>.