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

To: t2 who wrote (58079)4/28/2002 9:14:29 PM
From: Justa Werkenstiff  Read Replies (1) | Respond to of 99280
 
NV: Yes, absent a crash (always a small probability) here the probabilities favor a stabilization and then bounce/rally into the FOMC on May 7th. Target is slightly above $33.

I am not suggesting there will not be market weakness tomorrow. Not sure. Sox might be drawn to 500. But with Friday's down, the upside reward is greater in my mind. I see a logical stop to carnage is in the 1650 area.

I would not be short here in the shorter time frame.



To: t2 who wrote (58079)4/28/2002 10:53:27 PM
From: mishedlo  Read Replies (1) | Respond to of 99280
 
NV it is interesting that you mention MSFT 50.
31K puts and 3K calls at 50.

A decisive break of 50 and things could get real ugly.

I expect 50 to be defended very hard.
If it breaks badly look out below.
However, be on the lookout for a small headfake below 50 and a rally back to 52 or so.

M


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