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

To: Gush who wrote (347)	5/23/2005 8:25:31 PM
From: rab120	Read Replies (1) \| Respond to of 4814

"could be a few days of Red" Amen!!!

To: Gush who wrote (347)	5/23/2005 8:53:51 PM
From: Chilidawgz	Read Replies (2) \| Respond to of 4814

sonic.net note the VXN lows and NDX/ratio peaks I think we are at the point of correction, how much remains to be seen.

To: Gush who wrote (347)	5/23/2005 9:08:03 PM
From: Walkingshadow	Respond to of 4814

Wow, what a great short setup: a classic rally into gap resistance below the 200 sma and resistance from the sharply downsloping 20 ema: 139.142.147.218 stockcharts.com[w,a]daclyyay[dc][pc20!b200][vc60][iLg!Lp14,3,3]&pref=G And yes, we have early technical sell signals now for sure, but these require confirmation from the slower stochastic 139.142.147.218 The slower stochastic is leaning that way, and confirmation looks like it will occur tomorrow. All in all, this is a excellent short opportunity in both, IMHO, but especially in QLGC since that has failed at the 200 sma. The intraday chart of QQQQ shows a failure at the 40 ema support, but that failure has NOT yet been confirmed with a lower low and a lower high below the 40 ema. 139.142.147.22 There was also a head-and-shoulders topping pattern late in the session, with a break at the neckline into the close. Stochastics here suggest a bit of upside will start off the session, followed by stochastic and Williams' sell signals, failure at the 40 ema, and confirmation of that failure. Maybe the "reason" will be the rise of oil prices, which the talking heads said was "shrugged off" by investors today ;-)) But there's no shortage of other "reasons" The GDP, FOMC minutes, etc. etc. "The devil can cite scripture for his purpose". -(Merchant of Venice; Act I, sc. III). "Talkingheads can cite reasons for their purpose." -(Walkingshadow) LOL! T