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To: Shack who wrote (58989)11/8/2002 11:47:12 AM
From: JRI  Read Replies (1) | Respond to of 209892
 
You expecting any retest back to that 1370 at lunch (is that where the downtrendline comes out?)...I'm thinking we wiggle up there over next hour or close (will enter some more short there)



To: Shack who wrote (58989)11/8/2002 11:48:11 AM
From: jimcav  Read Replies (1) | Respond to of 209892
 
Maybe just an ABC in BKX? not counting on it but who knows.
marketswing.com



To: Shack who wrote (58989)11/8/2002 11:49:47 AM
From: The Freep  Read Replies (1) | Respond to of 209892
 
Shack, it doesn't look like full breakdown mode to me here. The old highs of 1347 still haven't even been challenged, and while the Naz uptrend line has been pierced, at least, it was so steep as to be guaranteed to break. Let's give some time here before calling a breakdown <g>

As I'm typing, the SOX and BKX are erasing most of their losses of the day, the CBOE put call is hovering near 1 (though equity only isn't so bad), and for all the excitement of the intraday turnaround, the Dow is down a whopping 50 points. The vix is barely up. It's not a red letter day for the bears, yet, though they hold serve. Ya know, a lot of people had Nov 7/8 as a turn date. The irony here would be if we just saw the turn happen. . . off a low!

the freep



To: Shack who wrote (58989)11/8/2002 11:51:36 AM
From: ajtj99  Respond to of 209892
 
Shack, I've got 1347-1353 as a cluster of Fib and other support. I think that may be likely to hold right now and possibly allow a back-test of yesterday's low.