Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: donald sew who wrote (30486)	9/21/2000 11:17:53 AM
From: Paul Shread	Read Replies (1) of 42787

I've been looking at the Dow and SPX charts today and both indexes look pretty cooked here. The SPX is consolidating below the Oct. 98 trendline - a sign of further downside ahead. The Dow is more troubling: using a one-year daily, the INDU three days ago broke back inside the upper boundary of the diamond pattern; the next day it touched both the upper and lower diamond boundaries, reinforcing the pattern; and then yesterday it broke the pattern to the downside. Today it retraced to the lower boundary again, only to fail. Looks like a good shorting opportunity at 10,750, with a stop at that line.

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