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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (38372)	11/6/2002 4:28:09 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69187

RumorDude] Tue Nov 5, 2:36pm PST $NDX.X Fed CSCO The $NDX.X seems to be at a bit of a crossroads to me here. Yesterday an intraday head-and-shoulders, and there's an argument to be made for an inverted version of the same thing today. The real tell-tle will be the Fed and CSCO. As I mentioned before, I expect CSCO to dump their numbers for next year down and of course, the bond market has already priced in a .25 bp fed cut. I think either way there's a selloff on the news here -- if anything, dropping the rates just shows that these politicians have been on crack with regard to the economy coming around and getting better. Throw on top of that the deflationary story I've got a tough time here. Sell to close Nov $NDX.X 1050 puts, Buy to open $NDX.X 1025 puts. [madtrader] Tue Nov 5, 6:51am PST QQQ At the morning opening levels, QQQ has retraced 38% of the move from Friday's lows to yesterday's highs. A natural entry point for longs. So I was long. long QQQ. Register for our newsletter [RumorDude] Mon Nov 4, 2:01pm PST MSFT Hearing that Bill Gates and many other insiders were unloading today. All we need now is for CSCO to lower next years numbers! Buy to open Dec 55 MSFT puts. (done end of market) [Harry: It looks like mad trader and Rumordude are on opposite sides of the trade. It show you the amount of confusion up there. Fundamentally I agree with Rumordude. Technical mad trader's senario looks right short term. They can both be right if we get the initial pop when the Fed lowers followed by the realization that this means the economy is weak then expected. Timing is everything. Still looking to go short if we get a a pop on the Fed cut. Will stop loss out if the COMPX break 1455.]