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To: Shack who wrote (19934)11/7/2001 2:38:26 PM
From: The Freep  Respond to of 209892
 
OT then on topic: missing trades becomes totally inconsequential when Freeplet walks up to me, spontaneously hugs me and says "love yoooo daddy" then walks away. Sigh.

I'm sure you clever people know this, but. . .

Nasdaq Composite : -- Technical -- Index continues to look strong despite its overbought condition. Notably, the Nasdaq found intraday resistance at 1868 which precisely marks a 50% retracement of the May to September sell wave. On a break higher, look for subsequent overhead at 1880. To the downside, watch for intraday support at 1852 followed up by additional support at 1840.

Hmmm. . . so an exact 50% retrace. Another 34 day rally. It can't possibly be this easy to spot a top, can it???

Great postings by y'all today. Wish I'd been around to see it unfolding real time.

the freep



To: Shack who wrote (19934)11/7/2001 2:39:05 PM
From: AllansAlias  Read Replies (2) | Respond to of 209892
 
Now that you're short, how long do you hold? Do you think we are at least correcting the run out of Oct 30? In that case, we are nowhere near done. We should at least test the pre-Fed low of yesterday.



To: Shack who wrote (19934)11/7/2001 2:42:37 PM
From: The Freep  Read Replies (1) | Respond to of 209892
 
<<I suspect we'll be back here in January. >>

Are you saying that we're now starting a down leg that won't make a new high until January? That doesn't entirely jive with the observations here about no bullish extremes, does it? And yet, this could easily be the start of a B if the up since the 21st of Sept was just an A. Color me confused, as usual.

the freep