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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (316)	5/23/2005 6:43:53 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

Hi Jill, SMH is extremely overbought: 139.142.147.218 There are signs of technical weakening now, and it is about to test overhead chart resistance at $34. I expect it will test that intraday probably today and fail there at this attempt. I would wait for a correction before considering a long position in SMH. Note that the overseas markets were mostly up, but the Nasdaq futures are trading in negative territory now. The markets should open flat to a bit down if the futures hold, and I think they will. T