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

To: Canuck Dave who wrote (45851)	8/15/2001 12:58:21 AM
From: Canuck Dave	Read Replies (1) \| Respond to of 56532

Shocking realization of the Week #2. We all know the classic definition of a pump and dump. What happened after the dump? The guy running the scam just walked away, leaving the suckers with their worthless paper, which slowly dwindles away in value because it has none other than speculation. Does this seem to bear a striking resemblance to today's markets? Based on what was seen in the past few years, we all assumed the markets would go up or down from here. Maybe the game is over for a while and just maybe we're stuck in this range for a long time. Maybe it's time to seek greener pastures. CD

To: Canuck Dave who wrote (45851)	8/15/2001 1:06:17 AM
From: ajtj99	Read Replies (1) \| Respond to of 56532

I agree, CD. Lots of people (including Max) sitting this one out. I believe that's helped maintain our trading range the past couple of months. Looking at the charts tonight, I'm inclined to believe that we'll bounce off some support on the NDX around 1615-1620 and COMPX 1960 or so. There are some bullish falling wedges on the charts that seem to indicate we'll break to the upside short term. I believe we'll make another run at 2000 COMPX and 1675 NDX. That means I'm getting some QQQ Aug 40 calls again tomorrow, hopefully around 1.00 or less. Wish me luck!