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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 (1017)	6/24/2005 2:17:49 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

I agree, except that I think oil is basically a red herring----for now. That will change, particularly if oil cannot maintain the trading range of around $40 - $50, which is probably more or less sustainable without too much in the way of bad repercussions. That's one reason I think the present long-term uptrend may only last through the end of the year, perhaps partway into 2006. I don't see a lot of good things a year or two in the future, and I see lots of storm clouds on the horizon. That said, I'll be watching things carefully. Yesterday's volume spike should not be taken lightly, but of itself is not enough. If we see more of this kind of thing, I will have to modify my outlook. Today, in fact right now, we are seeing a moderate surge of volume at the low of the day (currently $37.02). This volume, unlike other previous volume spikes, looks to me to be outright buying volume, and will very likely stop the decline temporarily, perhaps for the rest of the session. But this is not too worriesome yet, I have no plans to cover my short at this point. Still... bears watching. T