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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45130)	7/24/2001 8:07:22 PM
From: ajtj99	Read Replies (1) \| Respond to of 56535

What a coincidence, Max. I was just looking at that myself, and it appears the TRINQ turned up right after 3:00, about the same time the NDX touched bottom today. The lines on the 15-minute fast stochastics chart crossed shortly afterwards, and the MACD crossed shortly after 3:30. I tend to agree with Zeev's short term outlook this week after looking at things. A short bounce will relieve some pressure and build some complacency, leading to a better drop next week. The following week we have CSCO earnings on Aug. 7, which should be a strong catalyst that could propel a bounce. I didn't close my puts today, so I'll just hold them into next week and try to close them at 4-1/4, then go call side for a bounce. If I was vigilant today, I'd have closed them at 3.30, but my day job comes first.