SAMPLE INTRADAY UPDATES // TITANIUM LEVEL
*****Friday Aug 16, 2002 UPDATES*****
10:35AM update..Friday Aug 16, 2002
NASDAQ came pretty close to forming an island reversal, but the buyers came in to buy the dip, and prevented it..the internals are good enough to sustain upward momentum, with the up volume 59% down volume 39%...the NASDAQ appears like it will make another attempt at 1354, and the QQQ at 24 is actually finding support..there's still a lot of QQQ 24 calls (190,000) vs. QQQ 24 puts (70,000), and it will be interesting to see how the market will close...the p/c ratio on 24 is very lopsided on the call side..
11:05AM update..Friday Aug 16, 2002
The previous high was 1354.48 and the NASDAQ got within a fraction of it...if that breaks, the NASDAQ could get that 3 of 3 I detailed in today's forecast..and yes, Tai Chi still has the BRCD (16.05)and QLGC (35.27 now 36.42) shares he bought yesterday.
11:35AM update...Friday, Aug 16, 2002
Tai Chi sells the BRCD 16.13 and QLGC at 36.82.
12:05PM update...Friday, Aug 16, 2002
I have an alternate (why Tai Chi sold)...the corrective wave yesterday,
could have been a W4, and the rise today could have been a 5th wave...if
it were to travel .618 X W1 + W3 it would stop right near 1375...also
I saw a vague 5 waves up from the intraday low, so Tai Chi will now
wait to see how this first retracement goes before making another trade...after
today, Tai Chi is now up 146.50%(!!).
12:35PM update....Friday Aug 16, 2002
From today's intraday low, the NASDAQ has 5 waves up, and has entered
the first retracement wave...I would like to see the NASDAQ hold 1341
(.618 retracement) and rally hard off of it, if that happens Tai Chi
may get back in...but he's still watching.
1:05PM update..Friday Aug 16, 2002
So far, the NASDAQ has dropped 3 equal length waves down (A = C), and
for this rally to sustain, would need to move over 1361 (.786 of the
drop from 1365 to 1352, and not drop 5 waves down..so far it's 3.
1:35PM update..Friday Aug 16, 2002
NASDAQ came within fractions of breaking 1361..the more precise .786
retracement is 1362.25, and that's the level that needs to break...QLGC
is starting to breakout again, and Tai Chi may jump in if 1362.25 goes....
2:05PM update...Friday Aug 16, 2002
Tai Chi buys 6000 shares of QLGC at 36.65.
2:35PM update..Friday Aug 16, 2002
NASDAQ hasn't broken 1362.25 yet, but QLGC broke it's 78% retracement
level so Tai Chi bought it....NASDAQ has enough momentum to break 1362.25,
and the internals are strong enough to sustain it, but this is expiration,
so look out for big surprising moves after 3PM...
3PM update...Friday Aug 16, 2002
NASDAQ broke both the 78% retracement and a new intraday high, but from
the low hit in the afternoon, the NASDAQ rallied 3 waves up, so this
could also turn into an ascending triangle....so I'm anticipating the
possibility of a pullback at the close, instead of a big pop...but
that could be saved for Monday.
3:35PM update..Friday Aug 16, 2002
There's our expiration dip....Tai Chi might even double his position
(he's nuts), depending on how the NASDAQ closes..
3:45PM update...Thurs Aug 15, 2002
Tai Chi buys 10,000 shares of BRCD at 16.05 and 5000 shares of QLGC at