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 (1218)	2/27/2001 9:21:58 AM
From: JRI	Read Replies (1) of 52237

Looks like, at yesterday's close- we were sitting right at the top line of the downward channel established since around 2580 or so.....a sharp, downward channel over the past 6 trading sessions....If we head down here, and do not go positive today, I'd say odds favor we are still in that downward channel, and could easily test the lower line of the downward channel, which is likely around 2050, and will be around 2000 in a couple days.... I am looking for the market to try to get back to even today....if it does, I'll likely establish shorts....if the market continues up...I'll likely cover quick, and look to see if I can pick a fading point later today (we could get a headfake).....However, I am guessing that we won't make it past near-even today.....(I'll be watching SOXX closely, but it doesn't look good for that index)_ If we break the current downward channel to the downside.....holy mackarel!

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