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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (8557)	9/20/2001 6:08:03 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 19219

Options say we have a slight up day tomorrow , with the QQQ just a little under 30 by the close. If the options are wrong next strong support is down around 27.30..a short term bottom via the Vix and options says we dont crack that for very long. however that's still another 7% downside if it happens. We have had 4 days running above 40 on the VIX and that's good.. if it don't drop below 30 on a fast rally we could be close to putting in at least a short term bottom that may have enough fuel to turn up for a while. It needs to be a crawl up not a rocket, it has to have a lot of doubters and shorts hitting on it as it "slowly" gets it's legs or it's not over , any rocket up with gaps and such will get shot down like a duck just as soon as CNBC starts telling every one the train has left the station..( do you remember them doing that in May ) I do. Jim