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

To: Return to Sender who wrote (37538)	7/10/2002 2:40:50 AM
From: Johnny Canuck	Respond to of 68393

Hi RtS, >>thread but if no one minds the redundancy I will post >>some of what I find interesting here iby copying and >>pasting until we get into some more useful discussion. Go ahead and post anything you think is interesting. I have limited time these days, so I can't cover as much as I used to. >>Basically what I read stated that MAX Pain for the QQQ is >>at 27 so there is a better than 50/50 chance in my mind >>that the NASDAQ moves higher going into the expiration of >>options. >> >>In the meantime I suppose we could move lower and attempt >>to put in the kind of bottom that will be marked by a >>much higher VIX reading. It sure does looks like the risk reward is not there for trading anything more than day trades. The intermediate trend remains down and won't be broken till the COMPX break 1500/1525. Given the mixed pre-announcements to date, I have problems imagining an upside scenario through the first half of the earnings period. On the other hand earnings season is full of surprises. Here is an interesting chart look at P/E ratios of the SP during significant market bottoms since 1940. chartoftheday.com