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

To: Math Junkie who wrote (49194)	4/9/2002 5:40:07 PM
From: Justa Werkenstiff	Respond to of 99280

Richard: Re: "Are you starting to cover because we're approaching the Feb. 22nd low?" The last time I covered any of my core positions was on February 22nd where I covered 45% of them. So, I do not cover these too often. I am not really covering because we are nearing the February 22nd low. The QQQ low was $33.09 on that day. It just happens to be in the area where I see a bounce potential developing technically. Yet a double bottom or something close to such a bottom would seem plausible and form a descending triangle if we go up to a lower high than the March high on a bounce. And then we have the options expiration game which seems like it might be in play and get us a lower high next week. If the right circumstances present themselves, I might cover the whole load and then I would decide on whether or not to go long.