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

To: Zeev Hed who wrote (23140)	8/6/2001 7:00:41 PM
From: Pierre	Read Replies (2) \| Respond to of 30051

Zeev: QCOM showing some remarkable resilience here imho. I'm out, but want in longer term. Is now the time, or do you see a pull back? My QCOM crystal ball is all messed up. TIA. FWIW, put your quintet on 5 minute charts side by side. Watched 4 of the five run, then fade this afternoon - almost in unison. Nice group. Thanks for the continuing feedback on those. Pierre

To: Zeev Hed who wrote (23140)	8/6/2001 7:07:54 PM
From: ajtj99	Respond to of 30051

Zeev, I believe tomorrow may start out near where we ended today, unless there are some catalysts thrown at us. I believe a drop to a decent support level on the COMPX (2026-2031) could give us the bounce I expected this afternoon. If we rally to 2040-2050 going into noon, it should bring the 15-minute and possibly the 60-minute COMPX into the overbought range, allowing a sell-off until late afternoon short covering ahead of CSCO's earnings. Since the SPX and NDX hitting their even number "support" levels did not produce a bounce (1200 and 1700 respectively), I'd have to say the COMPX may determine a bounce. It looked like everyone was just sitting on their hands waiting for CSCO today, and maybe that's what tomorrow will be. It makes sense. Why be on the wrong side when we are smack in the middle of a trading range (1900-2100 recently, and effectively more like 1950-2057). The perceived better move may be to wait and react to the CSCO news if you're a big trader.

To: Zeev Hed who wrote (23140)	8/6/2001 10:19:21 PM
From: anon	Read Replies (1) \| Respond to of 30051

Hi Zeev, i have two patterns in mind for tomorrow. 1)The first one has 7 possible turns: morning low up to early pm high, down into lunch up into 2 high down into late pm low, then up into 3:50, then down into close...if we are weak tomorrow then 11:20 +/- can be the high of day..tomorrow shouild be a volatile day for trading.. 2)if we rally up into 10:10 +/- high then potentially we have a bullish day tomorrow (i don't think we'll get a morning high tomorrow though)..well, that's what i have, bwdik? -mr. potato head