The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Steve Felix who wrote (38666)	3/2/2001 4:37:27 AM
From: Doug R	Read Replies (3) of 79313

Steve, Looks like the ACT at 7900 on the DJIA is almost a certainty now. The next couple weeks could nail it down if the weekly bars continue the slip down from the IL. But I ran across a decent quick term long while chart surfing tonight...ENTU. Keep an eye on it. The only 2 I stalked early this week on the basis of the look in the charts were GCOM and WSTL. The market was so ugly I missed GCOM out of trepidation and WSTL was obviously weak. The only ones with stuff out of my toolbox that have been working are the IL/ACT/RR plays. It looks very good for CCMP to now begin RR and CHIC still has plenty of room to fall with 17ish as the downside target. CATT was mentioned here and even though it started falling earlier than I would have liked and went to the target, it screamed right down through the ACT. Almost makes me think twice about going after RRs at present. The MTON RR was very good so "almost" thinking twice is still just "almost". I've been wandering over to the Yahoo boards lately. The IL/ACT gets some interesting reactions there...lol. Some constructive stuff has emerged though. I was asked about TRR on the CCMP board. It's not a definitive top yet and RR timeframe calls for about one year to the ACT which will be 13 to 14 by the time it's reached. That's quite a long timeframe for an IL violator...interesting. Anyway...it's quite possible that the current relief rally...if this is one...will be a last best chance to exit long positions that one may have been thinking had gone too low to get out of. Also anyway...considering that the avg yearly return in the stock market is about 10% and that 7 years ago the DJIA was in the 3900s, a return to the ACT at 7900 would bring the DJIA right back in line with that rate of return....coincidence??? Doug R

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