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Strategies & Market Trends : The Thread
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To: JLS who wrote (11891)8/29/2000 3:15:26 PM
From: stan s.  Read Replies (1) of 49816
 
NASDAQ, Julie, I've heard the case made that if you extend this part of the chart back to include April you could call a neckline of the late May bottom and the early August low, that would give you a sell point around 3700 (I'd have to check the exact #).

While I agree with the sell point of that trendline, I don't think it's a head & shoulders.

My own suggestion here is that by using the same criteria that would have kept one out of harm's way in the March and May selloffs...one could escape the next selloff.

Those points are the shorter trendline, 200 day ma and 40 da may. If you throw in the hi/lo differential and heed the signals, all the previous pain would have been avoided.

I intend to heed the signals but I'll play until I get them and right now I think the short medium term is still okay.

We just have to be constantly vigilant and be willing to exit.
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