Stock Attack -- A Complete Analysis Message Board

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

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To: dennis michael patterson who wrote (40547)	1/10/2001 9:51:54 AM
From: Paul Shread	Read Replies (3) of 42787

I hate to sound like a scold, DMP, but ignoring market history is what got us into this mess to begin with. I wouldn't ignore a second rate cut, which caused a sizeable rally even in November 1929-April 1930. That's 21 for 21, and 20 of those second cuts marked a very significant bottom. If that red line goes through the green and blue, this market will ignite: stockcharts.com The one thing that does worry me here a little is the Dow, which did not put in a bottom on the rate cut. But unlike the COMPX and SPX, it wasn't anywhere near its bottom when the cut was made; could be some unwinding of defensive positions or nervousness about the economy. I've got 10,300 as critical support on the Dow. Healthy markets move in sync, so it may take another cut to get the market healthy.

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