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

To: ChrisJP who wrote (39444)	3/9/2002 3:12:31 PM
From: Dale Baker	Read Replies (1) \| Respond to of 99280

A truly disciplined trader would have been watching the 1795-1805 range that marked the top of the down channel since January and bought the break to the upside with a stop at those same levels in case the Naz retraced to the channel line and it didn't become support. Of course, I am mostly a portfolio investor and not a disciplined trader so I missed it. ;<) Looking at the daily highs I see a double top around 1959-1960 in late January that marks the next big resistance. If that breaks in an upside move, the furor would probably produce a run to 2100 again. These are tricky times when a clear channel breaks and the market is fishing around trying to form a new pattern. As for valuations, I don't trade or invest in most of the NDX or SP500 stocks anyway, it's just background noise for a mid- and small-cap portfolio.