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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (37025)	5/15/2002 3:48:26 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69762

[madtrader] Tue May 14, 6:27pm PDT QQQ Just caught a little story on NBC Nightly News about small investors preferring real estate and being skeptical about this rally. Music to my ears! As I have suspect for a while now, this market is mostly institutional driven. Unlike the narrow advance in the late 90s that was dominated by retail action. To me, this makes this market advance much more sustainable. I am also very very encouraged by the weekly data I am looking at right now. Although we have only 2 days worth of data for the week thus far, this is already the highest volume week for QQQ in it's dozen year history. On prices, if we can merely hold current levels until the weekend, we will also have a clear morningstar setup on weekly chart. I have maintained in the past month that we are having a rotation back into the large cap tech names again. This does not necessarily mean it will come at the expense of smaller and midcap names. However, it is clear to me, that this rally is even broader than I expected. none [RumorDude] Tue May 14, 2:23pm PDT QQQ Well, the higher highs and relatively strong close on big volume (albeit WCOM volume is a big component there) still looks pretty compelling to me. I still see a 38 in the upcoming months. none Register for our newsletter [madtrader] Tue May 14, 12:22pm PDT GNSS Big volume break above the 50 DMA. Momentum positive as well. Should trade up to the 200 DMA. long GNSS