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

To: orkrious who wrote (26489)	1/28/2003 5:47:10 AM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 30712

Ork: I am looking at the NDX and the lower trendline is good enough. Time to get ready for some volatility as the same conditions that existed for the January rally established themselves yesterday again. So be ready for a volatility rally of 10% or so on average. But this one could be real tricky and I expect it will be shorter in duration. Now the key here is that even though I expect a white day today looking at the futures, yesterday's low was not necessarily the bottom for the rally. It could come in the following days. We could go lower in the next few days or at least test the lows to make a bottom. I am going to guess that $25.20 would be the ceiling on the QQQs today if we even get that high. Anyway, the extent of the white day today will give clues about how this thing will shape up going forward. Now in case the futures are lying, I will buy any weakness below yesterday's low. If we have good up today, I will close my long hedges bought yesterday and roll those profits into short positions. If we have marginal up, I may just close my long hedges. The bigger plan for me on this rally is not so much to make money on the long side but to add to short positions as once this time frame expires we should be going down more.