Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Justa Werkenstiff who wrote (45525)	4/1/2002 6:32:12 PM
From: ajtj99	Read Replies (1) \| Respond to of 99280

Justa, on that chart you posted, if you draw a trendline from the Feb. 19 low through the Feb. 25 pivot low, you get a line that supports the rise through March 18. When that line was broken, we had a downtrend. The downtrend line on that chart connecting March 18 and March 24 was broken March 26, and we'll be in an uptrend unless we get around the 75-80 mark it appears. In other words, we need to expand the highs tomorrow or the rally could be in trouble.

To: Justa Werkenstiff who wrote (45525)	4/1/2002 7:03:27 PM
From: ajtj99	Read Replies (1) \| Respond to of 99280

Justa, put/call ended at 0.73, with equity only a bit under 0.60, I believe. That's mid-range for the put/call. There are two gaps above to be filled on the NDX (1523-1530, and 1491.31-1496.67), and I think they stand a good chance of getting filled. There is a SRL that we need to get by at around NDX 1500 (I think that's what Security Trader is referring to) and an FRL around NDX 1525 or so. BB's are pinching on the daily. In fact, today's NDX action nearly spanned the entire range between the lower and middle BB on the daily. A rise above the middle BB would mean we're seeking out the upper BB soon, which may be near NDX 1530 by the time we get there. A rise to the upper BB and a possible subsequent reversal could set up a drop into mid-April that could breach the NDX 1423-1425 level and touch NDX 1381-1400 before reversing up for expiration and Max Pain (around NDX 1442). All this is just speculation at this point, but if it does work out this way going into expiration in April, I think we'll have a rally that could take out the March highs and possibly hit the NDX 1635-1670 range in May.