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To: Shack who wrote (48903)	8/3/2002 5:17:07 PM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Yes, INTC daily is tres important. As for a possible bullish SOX wedge, it's premature to think about it imo. Non-tech off the top is not clear. I'm gonna post a Dow chart later and I'm sticking with the 65% confidence that a new low is coming there as well. My short exposure is almost exclusively tech (only a little Tempest left as of Friday's close, and that's not really non-tech exposure anyway) and I am comfortable sticking with that and have done so for weeks since the MSFT break. That Dow top is messy, count-wise. That rummy index puts in more messy , unreadable tops than anything else.

To: Shack who wrote (48903)	8/3/2002 10:14:55 PM
From: ajtj99	Read Replies (2) \| Respond to of 209892

Shack, I know you guys don't respect Max Pain, but it's 24 on the QQQ. The new lows I expect Monday are around 21, so that will put us $3 under Max Pain, or 120-points. Normally during options expiration we tag the high side of Max Pain when possible, and the low side. If we tag the high side, it would call for possibly a 140 to 160-point rally off an expected low around NDX 840-850. If we ran 115 points off 845, then it would equal the run from 877 to 992. A 20-point throw-over would get us to 980 NDX and 0.50 above Max Pain. Anyway, that's the set-up I'm looking for, with a high on Wednesday, August 15 or so. With CSCO on Tuesday after the bell, a reversal this Wednesday or late Tuesday would fit the scenario well. I do believe we'll get a new low on the NDX, but possibly not on the COMP. If there is a new low on the COMP, it may only be a point or two, IMO.