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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (530)	9/13/2002 5:49:31 PM
From: MulhollandDrive	Respond to of 57110

speaking of hot nekkid traders... strangecosmos.com (well, not really, but just struggling for the segue...) :)

To: Jorj X Mckie who wrote (530)	9/13/2002 5:50:06 PM
From: Challo Jeregy	Read Replies (2) \| Respond to of 57110

I wrote this last week-end at Lee's site - and I feel like giving myself some kudos -g- fwiw - re the 16th high, max pain, market direction - I am attaching a chart that Merlin sent Friday morning - he hasn't been so good the past few weeks, but, hey, who has? -g- Anyway, if the market played out as this chart shows, it would show a nominal move up for the high on Tuesday and then down to end the week unchanged. Very often, we see max pain hit the Wed before the week of max pain. ' - max pain friday close msft - 47.5/50, 47.85 spx - 925, 894 qqq - 23/25, 22.85 mmm - 125/122 ----------------------------------- ------- Looking at the above mentioned stocks, I observe the following - mmm - hit 125+ on Wed morning. Now, take a look at the daily chart. Is that a true 3 black crows? Even if it is, it could still meet max pain next Wed without negating the crows. Take a look at the p&f chart in every time frame - from the .50 box to the 3 box frame. MMM is sitting right around support (117-118). If it breaks, it is a big djia mover. stockcharts.com SC.web?c=mmm,uu[h,a]daclyyay[pb50!b200!b20][vc60][ iLl14!La12,26,9!Li5,5!Lp14,3,3!Lh10 ,10]&pref=G stockcharts.com nf.asp?S=MMM&Y=U&B=1&N=A&T=on ----------------------------------- -- msft - hit max pain Wed morning. Of course, it can do it again next week, with NO PROBLEM. MSFT is sitting right at support on the P&F chart and looks like it is forming a triangle. It could stay anywhere between where it is and 50 and meet max pain. If it breaks support - well, you know which indices it affects. stockcharts.com SC.web?c=Msft,uu[h,a]daclyyay[pb50!b200!b20][vc60][ iLl14!La12,26,9!Li5,5!Lp14,3,3!Lh10 ,10]&pref=G stockcharts.com nf.asp?S=MSFT&Y=U&B=.75&N=A&T=on ----------------------------------- ------- SPX - guess where it hit Wed morning? It's a no-no on a 10 box chart if it prints 870 but the BSL on the 5 box chart is 860. stockcharts.com nf.asp?S=$SPX&Y=U&B=10&N=A&T=on stockcharts.com nf.asp?S=$SPX&Y=U&B=5&N=A&T=on ----------------------------------- ------- qqq - couldn't even get to 24.50. P&F chart looks very weak. That low print of 21.50 is telling me something - stockcharts.com nf.asp?S=QQQ&Y=U&B=.5&N=A&T=on ----------------------------------- ------- Don't forget, next week is not only op ex week, but I believe Friday is triple witching also. I could be wrong on that -