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

To: J.K. who wrote (8344)	5/4/2005 1:56:06 AM
From: Stock2006	Respond to of 8752

I think 35.84 is more logical if we close above that then 36.58, we keep on trying to go high but too many shorts, Once Mr.President back off SS program we will see a huge short squeeze. I hope you know most broker do not have QQQQ available for short selling.

To: J.K. who wrote (8344)	5/4/2005 5:17:02 AM
From: Walkingshadow	Read Replies (3) \| Respond to of 8752

Hi JK, I think the critical juncture is the upper rail of the medium-term regression channel, and the lower rail of the long-term regression channel. For the medium term, the rails are dropping at a rate of about $1.00/5 weeks, and the upper rail currently sits just above $36 (about $36.10): 139.142.147.218 For the lower rail of the long-term regression channel is currently just below $35 (call it $34.80), and rising at the rate of about $5/11 months: 139.142.147.218 Changing the slopes to the same units gives -$0.20/week for the medium term regression channel rails, and + $0.106/week for the slope of the long-term regression channels rails. By simple subtraction, the distance on the y axis between the two rails then is $1.30. A bit of calculation shows that these two lines will intersect four weeks from today at $35.23. This is an approximation, because of the error in estimating the slopes of the regression channel rails. Probably $35.23 +/-$0.05 or so is about as close as we can estimate right now, or a target range of $35.18 - $35.28. This can be more clearly seen if you superimpose these using a weekly chart. Actually, you only need to superimpose the two rails in question. At that time, QQQQ will be forced to make a choice: break thru overhead resistance formed by the upper rail of the medium-term regression channel, or fail at support formed by the lower rail of the long-term regression channel. This latter possibility is extremely remote. It will not happen. Instead, I think QQQQ will proceed choppily upwards and successfully break through that rail, and go on to confirm the end of the medium-term correction with a test of higher support and the attainment of a higher high. I think we are currently consolidating at a bottom in preparation for exactly that. And, this will happen within a month because of where the regression channel rails are and the rate they are changing. T