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To: Shack who wrote (62473)	12/31/2002 6:02:27 PM
From: ajtj99	Read Replies (2) \| Respond to of 209892

Shack, the problem I have with that bear flag is that it measures to around 1160 COMP, which is below the 50% re-trace and the 61.8% re-trace off the highs. That's a flag that should break post expiration, but I'm not sure it's breaking prior to expiration. Might you be looking for something similar to the April/May set-up? stockcharts.com[h,a]daclyyay[d20020417,20020614][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14][J6471081,Y]&pref=G

To: Shack who wrote (62473)	12/31/2002 6:43:58 PM
From: skinowski	Respond to of 209892

<<Just look at a daily chart of the QQQ (no indicators-g/ng)and tell me if that thing in any way shape or form looks bullish>> Let me try just a couple of bullish arguments… -g. Both NDX and SPX have retraced nearly 50% of the October rally. They may go down, but a bottom developing near here would be by no means earth shattering. I’ve seen those running corrections resolve in sharp, but at times rather brief moves. We ARE near a potential good support. CSCO is strong, it retraced only 38% of the Oct advance, and as AA noted today, seems poised to rally. Our old buddy MMM gave back 50% and is acting stubbornly strongly. As I noted several posts below, MSFT made (imo) a fully valid down impulse off the 12/26 high (edit- ending with an apparent ED on 15min). The move is sized at one half the length of the (first leg) decline off 12/2, and it bottomed (?) at a 50% retracement of the October rally. (I liked the chart enough to take a position, with an average in the 51.40’s. Risk / reward seems good). Can talk about all this ‘till the cows come home, but… it’s time to go and party. Cheers! Happy – and hopefully, peaceful – New Year to all!