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

To: Dominick who wrote (10695)	2/21/2002 8:16:13 PM
From: Steve Lee	Read Replies (1) \| Respond to of 19219

"I'll be happily buying from here down to 30-ish" And selling in the 20's? You are right about the increasing vol on the way down, but I would wait till a) VXN gets higher and b) we get some heavy vol on a reversal day. Be careful reading too much into QQQ vol - it is a speculation and hedging stock. As it is a trustee fund comprising other stocks, the buy/sell pressure on QQQ itself does not have the normal supply/demand effect on price. Watch NDX along with vol on Nasdaq for better clues.

To: Dominick who wrote (10695)	2/21/2002 8:55:31 PM
From: KymarFye	Read Replies (1) \| Respond to of 19219

I was wondering whether you'd stuck to your plan. Thought maybe you'd want to see it move up a bit before committing. I disagree with those who say there's no support around here for the NDX/QQQ. Whether it will hold or not, and, if so, for how long, and with how much upside are other questions... Just getting back to 36, over that breakdown gap, would be an accomplishment. Of course, if you're just planning for a return trip to the 35s prior to any very substantial further erosion, then it might make for a decent trade. Even if I made trades like that, though, I'd be too cautious to attempt it prior to at least a sign of life, especially after the sequence we've just put in.