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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (35867)11/17/2000 8:22:03 PM
From: eichler  Read Replies (1) of 42787
 
It would be hard to imagine that I could not be aware of
the current Nasdaq downtrend this late into the year! I
am pointing out what you already know, that tradeable rallys
occur even during downtrends. I see a potential for a rally,
that's all. I have no idea of the magnitude. It may not happen at all. No problem here. I am not too blind to not
profit shorting here and there. I pick my shots as I see 'em.
Since you are in the mood for checking out charts, I have
a curiosity to point out. On the $compx weekly chart, we had
a high the week of 3/10. 11 weeks later we had a low the week
of 5/26. The week of 9/1 we had a high. 11 weeks later we
now have another low. Also, my favorite indicators look eerily just as terrible now as they looked at the intermediate bottom the week of 5/26. Stochastics heading down into oversold territory and ADX -DI spiking up. If the market could turn then; it can turn now. This doesn't mean much as we certainly could go lower starting Monday. It's just something interesting to me. Also, this week's candle is a white spinning top indicating indecision, somehow appropriate I think.
I see they still failed to tank the after market. Even the
futures look OK. We may tank Monday, maybe not. I made a
bet on the "not" before the close. We'll see. Got stops.
Regards and good trading ,
Eichler
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