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

To: JRI who wrote (18992)	12/9/2002 11:33:44 AM
From: ajtj99	Read Replies (1) \| Respond to of 30712

My TRINQ look on Thursday indicated this bounce could be short, and the low TRINQ open on Friday left little room for upside here. I had hoped for a neutral opening followed by sideways up, but I guess the market drop on the close Friday should have been a heads up that things were going to be weak. The market should have closed Friday at or above 1425 to maintain the uptrend off the lows on Friday. FWIW, I got some puts in the speculative account this AM on the breach of 1406 COMP (the .618 re-trace of the run up from 1391-1430 Friday). I'll look to sell them when we hit support. First level to watch is the 1375 COMP / NDX 1019 level. Below that we have 1363-1368 COMP as support.