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 (4142)	3/28/2001 10:38:25 PM
From: StockOperator	Read Replies (2) of 52237

What a difference a couple of days makes. Those short term bullish patterns that I mentioned have been decimated. For some time now I have been talking about a possible capitulation phase happening in the first quarter. Based on the overall patterns I thought stocks would have been pushed down hard during this time frame and then possibly get some sort of reversal at the end of the quarter (right now). That's why I have harping for some time over stocks like ADCT, SUNW, and CSCO, all three broke down today (finally). An earlier break and then reversal would have set us up nicely for a strong move up in the second qtr.. Something that looks highly unlikely at this time. Heck, look at AMZN still hanging at 10 bucks. Because prices have completely steam rolled through my 1st qtr. scenario it forces the downdraft in prices and capitulation phase into the future. Possibly a second quarter phenomenon. Which should tell us that prices across the tech spectrum will be going even lower yet. The pendulum swings equally in both directions. The infection is also spreading to the semi's whose patterns are beginning to rollover. Based on the charts I believe this phase will once again play out in all sectors. The stocks that you thought we're now safe should be hit once again. Those include the WCOM, NOK, and DELL's of the world. Even the automakers could be in trouble their charts are not looking healthy. Fundamentally this weakness does not bode well for where our economy may be headed. All the more reason that Michigan number earlier in the week slams home that the public, or should I say those polled, must have been sleeping through this meltdown in equity prices. If they're not worried they should be. Let me finish by saying that the close on Friday is still important. It still caps off the month and quarter and like WS has taught us, a lot can happen in two days. I don't like getting sand bagged.<gg> Good trading.

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