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To: HairBall who wrote (1186)8/9/2001 1:53:35 PM
From: Stephen M. DeMoss  Respond to of 1328
 
Lg, Well we went positive, albiet ever so briefly. I'd love to see the markets force some short covering to boost my Ciena up to about 32.5 <G>. I see the overall trend as down and am looking to go short THQI as it has a serious rounded top. Would that to rally to about 50+ before going short. Any additional thoughts this afternoon are always welcome. I predict some consolidating here, slight pull back, and then a rally getting all three main indexes higher; then close off those highs. Steve D.



To: HairBall who wrote (1186)8/9/2001 11:47:49 PM
From: ajtj99  Read Replies (2) | Respond to of 1328
 
LG, great call on the bounce off 1945 range today. That was not what I was looking for. I was out all day, so I saw it kind of after the fact.

Without a positive open and sustained rise, the downtrend was doomed, IMO. The selling was not quite exhausted, IMO, but next week is expiration, and it's time to work towards Max Pain, which could be at 2000-2040 or so, depending if it is 41 or 42 on the QQQ.


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