Stock Attack II - A Complete Analysis Message Board

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

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To: StockOperator who wrote (833)	2/23/2001 1:16:42 AM
From: Michael Watkins	Read Replies (1) of 52237

SO, Its nice to see you posting on SI again. Re a significant breakdown, I've been watching the NYA for what seems like eons as it grinds through consolidation... 204.244.168.151 And we have a first volley and a significant low to test. Underway. ottographs.com If the most recent consolidation zone breaks, its my guess that all markets will move in unison to significant new lows. As for tomorrow, we'll see if folks can push things up; the initial sell off on the futures post SUNW news had recovered last time I looked - I can envision a scenario where tech looks 'saved' and markets rally for one or more days. While the recent wedge in NDX was building this longer term outcome occured to me... 204.244.168.151 ... and its within the realm of possibilities and rising ADX to boot. ottographs.com The most diabolical ending to this scenario I can think of is a 2-4 day rally setting up a bear flag within the lower part of NDX/SPX/NYA trading range; and then a fast break to the downside caused by some catalyst. I can almost hear the crowd 'moving up on bad news, we're saved'. And ya know, if it happens, they may even be right. One day at a time...

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