Thin And Thinner
The Qs are down $0.70, but off earlier lows as we
approach midday on thin pre-holiday trade due largely to trader
reaction to downgrades in the semis and the correction of Thursday’s ending
overbought condition. The early action has the Qs testing hourly support
(approx. $31.25) established yesterday, and while the possibility exists for a
delayed gap and trap, liquidity has been thin and thinner, which has me in the
cautious/ambivalent mode as we get ready to fire up the grill for the weekend.
Friday May 24, 2002Â 11:30
A.M. ET
Good Trading and
Have a Great Holiday Weekend!