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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (20471)	7/11/2002 5:59:29 PM
From: Dave Gore	Respond to of 26752

BTW - Massive QQQ options volume today with a 5 to 1 Jul 25 call to put ratio, with nearly 100,000 call volume.

To: Dave Gore who wrote (20471)	7/11/2002 8:22:49 PM
From: Susan G	Respond to of 26752

I think TA predicted today...the channels last night pretty much predicted a turnaround, and certainly a big test in the am which was posted here, which we had and passed. So did the 3 black crows, 9 out of 10 times you get those on daily charts, the next day we get a bounce. And the severe oversold and pessimistic levels of traders and especially the media pointed to a bounce too. We were all ready for it but new there might (WOULD) be a selloff and big retest of lows first. We won't know until next week, or even after the options ramp whether this short term bottom holds. Or is THE bottom <g> Just keep this channel chart with options expirations moves of JXM's in the back of your mind, it has not failed in months...we have topped and reversed after options every month for at least the past 5 or 6 months. Should be good on the long side until then, unless bad news hits. I don't think the nas will make it to the top of the channel though, it seems a new channel with a steeper downtrend is in play now, so maybe just part of the way until it hits that HUGE resistance area around NDX 1075 where the index has topped six times since it broke that level of support in June...I'm being optimistic here <g> If it takes out that area, then we could get a good rally, as that will be the first time the NDX has broken BACK over the 20 EMA daily since May 20. stockcharts.com[e,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9][j4687698,y]&listNum=1 I'll post those updated channels in a minute...