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: Paul Shread who wrote (1009)	2/23/2001 10:23:47 PM
From: Berney	Read Replies (1) of 52237

Paul, Not at all. It is very simple as I have learned: watch what they do, not what they say! Or, Follow the Money! But, the fed has got to stop this Friday ritual of draining or not injecting on Fridays. I really don't like this pattern. I think the markets did very, very well today considering the lack of support from the Fed and the total distortion of MOT's press release. I don't like Black Fridays as I really believe that it will eventually yield a very Black Tuesday. While I'm very happy that my investment in QQQ this morning yielded very nice returns for the day, the fact remains that we are in no-man's land and the name is given for a reason. We were far enough away from the weekly down trend line and the last line on my chart to expect a playable bounce. OTOH the DJIA has the break of the Diamond pattern (appropriate name) that down looks like a long way (about 2K points). It can be fixed with a close above 10500, but it is not a pretty picture. The NDX has taken its hit, if not fixed, the DJIA is next. Just my Humble Opinion Berney

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