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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (60095)	11/21/2002 3:42:16 PM
From: Perspective	Read Replies (3) \| Respond to of 209892

Well, that's all I could take. SOX hit the 50% retracement at 365 of the entire move down since the start of the year, as well as horizontal resistance. It's quite extended, and there are a number of resistance ninjas looming in virtually every index. BKX against 800 and previous rally resistance, SPX nearing neckline and 50% retrace around 955, NDX nearing 200DSMA at 1130 as well as 50% retrace and its neckline on the monthlies - both around 1170. Ditched first chunk of SMH hedges at 28.44. Think I'm early, but it's time to start the process with all the resistance ahead. Smelly will probably start to lag, or lead the downside in the next correction. Looking to roll the hedge into QQQ or SPY for the remainder of this bear market rally. If anyone can recommend some good cheap editing software, I'd be happy to compose some pretty pics. BC