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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (32016)	2/21/2002 8:47:40 PM
From: limtex	Read Replies (2) \| Respond to of 99280

a - You've got to be kidding. Tomorrow is Friday, who goes home with stock on a Firday night in the middle of the greatest bear market in history when the rumours about finaical stocks have just started to emerge on these boards? Best, L

To: ajtj99 who wrote (32016)	2/21/2002 8:56:27 PM
From: david matherly	Read Replies (1) \| Respond to of 99280

1627 gap...Does this gap of 1 1/4 points on 10/10 present any influence as far as needing to be filled? David Matherly

To: ajtj99 who wrote (32016)	2/21/2002 9:04:48 PM
From: ajtj99	Read Replies (1) \| Respond to of 99280

More reversal evidence for tomorrow: On the NDX, today's close was stopped by the falling support/resistance line originating from the Dec. 6 high through the Dec. 18 pivot high. Why is this significant? Because this line has stopped the other 2 drops - Jan. 22nd and Feb. 7th. This is THE major support line for the NDX and is also working for the COMP. This line drops about 7-points a day, so maybe it will give us a target for the low tomorrow and beyond if that is not THE low. We had some important support/resistance lines during the summer, including one that contained every major drop. This line is performing the same function. Trade off it, and profit. The last two times we hit this line we nearly hit the middle Bollinger Bands afterwards. That could be 80-100 points to the upside from the low. We could run and hit the gap at 1801 and NDX 1434 and turn back, or just keep going. Good luck!

To: ajtj99 who wrote (32016)	2/21/2002 9:23:04 PM
From: exp	Read Replies (1) \| Respond to of 99280

AJTJ: good points but 13ema is apparently THE target not the middle BBs on upmoves even though we get small overshoots above the 13 ema sometimes (check the NAZ daily from 1/14). Also, we are in a perfect down channel (Larry D had it on his website a few days ago) so the upper line of the down channel is a barrier too. However, MORE IMPORTANTLY, given the degree of decline since early Jan we MAY HAVE TO experience a PARABOLIC (waterfall) drop before we reverse this downtrend.