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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts. -- Ignore unavailable to you. Want to Upgrade?

To: eichler who wrote (383)	8/13/2001 11:59:49 PM
From: mishedlo	Read Replies (1) \| Respond to of 2290

Eichler please note that much of todays gains were on the initial gap up. Steady volume selloff at the break even point and an extremely light volume rally into the close. I can see how you can make a bullish case here looking just at the chart, but consider also that max pain is approx 41 and the powers that be will do anything to get their asses covered on those QQQ PUTs/Calls. Tomorrow and Wed is the tell. IF (very big IF) we rally on WED and THU then perhaps I am convinced. I have put my $$$ where my mouth is by unboxing shorts on NVDA PMCS BRCM and MSCC at significant discounts to my last cover. I also went long SEBL at the open as Max pain is way way above this level on SEBL. My call based on Max pain was a rally in chips that dies and a rally in software (selective) that continues. No scare tactics. I am currently flat on EBAY. I will be pissed if I miss a huge drop but I did not get a good re-entry on a short. My LT prediction on EBAY still stands however. The chart really looks ready to roll over to me. M