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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (1341)2/27/2001 7:57:38 PM
From: donald sew  Read Replies (1) of 52237
 
Paul,

I remember not too long ago where it was heresy to say that the NDX would drop below 4000, then 3000, and now its testing a significant support area around 1850 with the 1400-1500 region as the following important support area.

What is a bit bothersome is that even though the NDX has dropped so much the overall sentiment doesnt appear to be that bearish - Im mainly talking about J6P, not some of the SI readership. Not that J6P isnt nervous, but Im still not hearing that they are selling, and most of them are still adding regularly to their 401K. Only a very few I know have protected themselves to some degree. I suspect the bullishness is coming from the performance in the DOW which is still in a trading range. Gosh, if that trading range on the DOW ever breaks convincingly, thats going to really hurt.
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