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Gary......
You might want to "relook" your charts.....the nasdaq is actually
holding up better than the other indexes due to dell,msft,intc and
csco......in fact, it has not yet broken the June low like its'
counterparts............
Tom
-----Original Message-----
From: khanitha <charlie@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, August 26, 1998 2:20 PM
Subject: nasdaq breaks uptrend on weekly and breaks "floor" on
the.......
>Yes, me again,
>
>I will make this absolutely ridiculously SIMPLE.....go to cnnfn.com,
then
>in the upper
>left click on us stock markets (the top one), then click on nasdaq,
you
>should then have in front of you 3 charts just for nasdaq, the
"today",
>then "13 week", then "1 year".
>well, unless i'm an absolute idiot, it appears the "floor" on the
right
>side of the 13 week
>has clearly been broken (also, i assume the ndq stochastics are now
crossed
>to the down side!!!), now draw an imaginary uptrend line on the 1
year
>(just look at it and do it in your head or with your hand/piece of
straight
>paper, the 1 year uptrend is BROKE!!!
>Is trading really that complicated? oh, ndq tends to lead the spz
lately,
>so if this break continues, and the transportations keep sh#*ing,
then
>clearly the spooz should also break the floor 1050's. My only and
obvious
>caution is of course the end of month/beginning rally and holiday
factor to
>the upside. Again i have till sep 18th to be wrong, so far not bad.
keep
>in mind if the oex breaks big to 455 before then and i close the
puts. 25
>to 30K is not bad for a months work and only $2,600 invested?!
>ya, i will be totally kicking myself if this happens, why, "why
didn't i
>invest more!
>you know what, i'll be greatful for what i make, then focus on
undervalued
>soybeans later this year, and maybe focus more on literal daytrading
oex,
>like i used to do with the spooz.
>time will tell.....
>gary
>hawaii
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