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To: marginmike who wrote (57763)	10/25/2002 3:32:00 PM
From: yard_man	Read Replies (1) \| Respond to of 209892

COT??

To: marginmike who wrote (57763)	10/25/2002 3:32:42 PM
From: Jack of All Trades	Respond to of 209892

NDX 10pts away from 1000 think it closes above it today?

To: marginmike who wrote (57763)	10/25/2002 3:42:26 PM
From: JRI	Read Replies (1) \| Respond to of 209892

Man, i don't know if I like you anymore (with this new e-wave stuff you throwin' at me/us) GG You raise some good points. The evidence is not totally conclusive for bears, but better than early in week I believe- and at same price levels (bearish divergence?). Volume, and that's a basic criterion you can't argue, has not been impressive on up. Debating closing this one...I'm still pretty light here, i guess that's why I'm not sweating....of course, another trading rule I frequently need reminded of...is all money is important, and not sweating small positions is an easy way to lose them

To: marginmike who wrote (57763)	10/25/2002 3:50:08 PM
From: JRI	Read Replies (1) \| Respond to of 209892

<Distribution> A more pointed answer to your question... I reckon when/if big money was buying this....it would resemble a "3", impulsive etc.... Smart money has made money off of this from the bottom '(forcing shorts to cover)- but not necessarily big money...smart money sees all those gaps on the chart and worries...smart money would almost prefer a pullback to fill those... This low volume, small bearish divergences while no price gain week.....intuitively, that tells me its the guys who made 20-30% in 2 weeks saying, "lets keep this up, distribute, and reup after a retrace"...same old, same old.. As a result, i could see it grind higher (more distribution to bagholders), but an explosion up from here (given stochastics, charts) seems unlikely, and is a modest bear bet I'm willing to make here. As you know, I am often a little bit early, but I can't use that as my moniker (already taken) The points you mention, plus the election (a little) do bother me...but I find the above-listed points stronger.. Man, I am long-winded or what g,ng

To: marginmike who wrote (57763)	10/25/2002 4:05:44 PM
From: Shack	Respond to of 209892

Looking at equity p/c on my Qcharts (all exchanges) is a fairly low .59 but it is just an isolated reading of course. What matters more to me is the 10 day EMA and that is now siting at .59 as well which is well in the lower half of its multi-year range which as oscillated between .45 and .80 since Jan 2001. I look for 10-day EMA's of .50 before I am willing to look at an 'IT' top. The last times I got readings that low were. late Jan 2001 late May 2001 late July 2001 late November 2001 Aug, 22 2002 Each were met with a large sell-off and it makes me very skeptical that we will exceed that Aug 22 top.