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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (2269)	6/13/2002 7:17:33 AM
From: ajtj99	Read Replies (1) \| Respond to of 30712

VIX and VXN did not have a straight 45-degree angle drop yesterday after the low was reached around noon. That tells me this may not be the real interim bottom. I'm selling calls at the open and most likely initiating July puts. If we gap, we'll be close to 1135-1140 NDX, which is near the ceiling of the down channel. That's not a bad entry. If I'm wrong, I'll be wrong only for a few days most likely. New lows expanded to about 250 yesterday in spite of an up day. This was a very narrow reversal. Without breadth, this has very little legs.