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Yes, I believe it could drop back to 2000 from 3000. These type stocks
typically have 50% moves, if not now, then next spring and that would only
be a 33% correction.
BobRoeske
----- Original Message -----
From: Alexander Levitin <alevitin@xxxxxxxx>
To: Donald E. Thompson <detomps@xxxxxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
Sent: Thursday, November 04, 1999 8:07 AM
Subject: Re: Nasdaq ready to MOVE
> I do not know how to make the chart go to the e-mail, but if you look what
> happened to the Nasdaq (let say, Composed) when it move thought 2000 for
> the first time, that what I expect it to do now.
>
> Uneducated Alex.
>
> At 10:47 AM 11/4/99 -0600, Donald E. Thompson wrote:
> >Besides,
> >QQQ on 60 min chart is wedging up .... Usually a short term place of
> >stalling.
> >
> >Don
> >
> >ROBERT ROESKE wrote:
> >>
> >> A contrary view, the Favors Trin5(codi) is near the Sell alert band as
the
> >> momentum oscillator and the 5 day RSI, indicate there should be some
> >> pullback in the NDX.
> >>
> >> BobR
> >>
> >> ----- Original Message -----
> >> From: Bill Bancroft <bbancroft@xxxxxxxxx>
> >> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
> >> Sent: Thursday, November 04, 1999 7:25 AM
> >> Subject: Nasdaq ready to MOVE
> >>
> >> > I trade using a mechanical model, and that model has me out of the
> >> > market right now due to high interest rates and poor breadth. Having
> >> > said that, I have attached a weekly chart of the Nasdaq that
contradicts
> >> > that outlook.
> >> >
> >> > First, the price has broken out of a trading range to new highs.
> >> > Second, momentum has broken out of a triangle and is heading higher
> >> > (assuming the market closes the week where it is at right now--big
> >> > assumption).
> >> > Finally, and perhaps most importantly, the weekly ADX is at a very
low
> >> > level reflecting the recent trading range. The ADX indicates the
amount
> >> > of trendiness in a market, it does not indicate direction. The low
ADX
> >> > is saying that the market is ready to trend. Considering the first
two
> >> > points I made, the direction of that trend looks to be UP. If the
> >> > Nasdaq can not stay above the recent trading range, that would be a
> >> > signal that the market may be ready to trend DOWN. Either way, the
the
> >> > point is, this market is ready to MOVE.
> >> >
> >> > If one didn't want to try to call the direction of the market, one
could
> >> > buy a straddle---a put and call of the same strike price.
> >> >
> >> > Bill Bancroft
> >> >
> >>
>
>> -------------------------------------------------------------------------
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> >> ----
> >>
>
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> >> Name: CODIndx.gif
> >> CODIndx.gif Type: GIF Image (image/gif)
> >> Encoding: base64
>
>
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