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

To: Johnny Canuck who wrote (37569)	7/11/2002 2:23:44 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68381

[madtrader] Thu Jul 11, 11:13am PDT Market If you follow IBD's rule. We should be looking for a follow through day with increasing volume that gains 2% or more for the day. I am not sure if we will get that with DJI. COMPX is still unable to break above the key 1370 level thus far. But QQQ volume has already exceeded yesterdays. Also seeing YHOO, CSCO and SMH in the process of forming bullish engulfing days. Needless to say, these traditionally "reliable" signals haven't done much to stop the bleeding recently. So, I will try to be nimble and take what I can get out of this rally. On guard for exits, that is. none. [RumorDude] Thu Jul 11, 11:11am PDT BBH And a touch a biotech, which is also bouncing from it's lower trend channel line Buy to open Jul 70 BBH calls. Register for our newsletter [RumorDude] Thu Jul 11, 11:03am PDT $DJX.X SMH The DJX looks much better than the SPX does here so I'll speculate a bit. The SMH's look as good to me as the QQQ's do. Not going to overdo it on either of these trades but get a bit of exposure Buy to open Aug 89 $DJX.X calls, Buy to open Jul 27.5 SMH calls. [RumorDude] Thu Jul 11, 10:35am PDT QQQ Agreeing here - definitely looks double bottomish and been holding up much better than the SPX. All these indexes are oversold (RSI method) and the high volatility smells ripe for a relief rally. Buy to open Jul 24 QQQ calls, Buy to open 2x Jul 25 QQQ calls, Buy to open 4x Jul 26 QQQ calls, 2x Aug 24 QQQ calls. [madtrader] Thu Jul 11, 10:26am PDT QQQ NASDAQ has bumped above the downward regression channel here. I am also getting confirmation on my stochastics model. none. [madtrader] Thu Jul 11, 10:23am PDT QQQ I am going to get aggressive here. Buying a big pile of short term calls. buy to open QQQ July 23 calls. [madtrader] Thu Jul 11, 10:06am PDT QQQ QQQ is bumping against the uppper regression channel here (down channel). Donno if it will crack to the upside. But intraday momentum has turned positive here. It got negative near the end of the day Friday, which was the reason for my exit then. buy more QQQ Aug 24 calls. [RumorDude] Thu Jul 11, 9:57am PDT $NDX.X ... And the other half Buy to close Sep 1600 $NDX.X puts, Sell to open Aug 950 $NDX.X puts