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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?


To: J.B.C. who wrote (25943)2/9/2003 12:22:21 PM
From: Jorj X Mckie  Read Replies (4) | Respond to of 57110
 
nope, I don't think that we get anywhere near the upper boundary.

My basic gameplan this week is thusly

If we gap up tomorrow - Stay short and wait for selloff to cover
If we gap down tomorrow - Go to cash in the first 30min of trading
If we drift down tomorrow - Stay short until selling intensifies
If we drift up tomorrow - Cover shorts, go to cash

I think the bounce (assuming) gets us to at least SPX 880 and NDX 990. But I think that it will be from a lower level than where we closed on Friday.

I am also thinking that the Dow and SPX may be closer to their opex ramp bottom than the naz. In other words, the naz may get some stronger selling than the dow or spx.

Note, 20pt Naz on BSL
stockcharts.com

.5 pt QQQ also on BSL
stockcharts.com

10pt SPX went through BSL
stockcharts.com