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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (9468)	10/4/2002 7:40:59 PM
From: orkrious	Respond to of 30712

gold?

To: NOW who wrote (9468)	10/5/2002 5:52:47 AM
From: Justa Werkenstiff	Read Replies (8) \| Respond to of 30712

Tooearly: I will pan for QQQs. No need to take specific stock risk. What is the point when these individual stocks can deteriorate faster than the underlying market. It is real simple. Short term downside on the QQQs is $17.50 - $18 for now. Upside is $22. We are at $20 and change. Pretty much in the middle. But Max Pain is on the long side at $22. I want a long close to $20. We are not working with much so a good entry is important. Max Pain should protect longs for now along with the rule of buying a fresh low. You got a taste of what it means to buy a fresh low yesterday afternoon with that short covering spike. All the wavers are confused because it does not fit their wave patterns. It is real simple. Why make it confusing. All those who has shorted above had profits. That means most shorts in the investment world had profits. Well, some started to take them and that action started to take out stops and confuse others into going long. Well that underlying pressure still exists as was evidenced by a close off the lows even though we sold off. So right now, action has shifted to favor the longs short term. Fianlly, a bounce fits into the July pattern right now perfectly.