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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Walkingshadow who wrote (6913)	3/22/2005 7:07:53 PM
From: Gersh Avery	Read Replies (1) \| Respond to of 8752

The chart on the left: ttrader.com Today the upper tine was ~36.75 QQQQ. that was hit and then a sharp bounce down. That is how a fork acts. The fork is falling at a rate of about 12.3 cents per day. For tomorrow, this fork has these values: upper = 36.627 center = 34.157 lower = 31.687 I expect to see a bounce off the center tine. I'll cover my short there. If we break through I'll reshort. I'll also cover if we break through the upper tine. In the meanwhile, it'll act as a trailing stop. IMO With only descending forks available, the way to play these markets is either flat or short.