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

To: exp who wrote (62487)	1/2/2003 12:00:46 AM
From: mishedlo	Respond to of 209892

I would put INTC at somewhere between 15 and 17.5. But it is a SOFT 17.5 IMO. QQQ is 25-26 When calls are skewed like that it is no wonder we dropped. Technically INTC has pain at 17.5. But the put call ratio is skewed there and way skewed at the next highest strike. That tells me 17.5 is suspect and I would eyeball 17 or possibly even less, 16.5 perhaps. Now the question is do they care to stop the decline or not. I am sure they are short from 20 or so on INTC and 55 or so on Softie. So it does not matter much if we drop further or not. I believe they win either way. Given the way the crooks play this game, a rally is typically postponed until the last possible moment killing all the premium the call buyers paid for and killing put values at the last possible minute on a series of gap ups. If strong volume come in, we sure can bounce, but I still doubt it is a huge one. I hope we can get to QQQ 26 and spoos 910 as I would be quite happy to short there. If we start to rally, I sure would recommend standing aside until expiry to short. Based on expiry on the 17th, the typical rally would start January 8th or 9th. But the Dec Decline started a full week early and continued after with no bounce at all. Was that an anomoly or are we to expect more variance in the game now? One month does not make a trend, so we must wait and see. Let's see if and when we bounce. QQQ 24 to 26 can easily be done in a few days. Will it come early followed by chop, will it come on schedule (and if so very playable with calls cause it will be from a lowe level most likley), or will it come at all. The next three days will be the tell. If we start to see some low TRIN days, without a bounce or we keep chopping down to the same spot that holds, That could be the signal to go long. I do not care if I catch it or not. I do not want to miss a huge decline however. M