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: JRI who wrote (5761)	4/14/2001 10:17:53 AM
From: Lee Lichterman III	Read Replies (3) of 52237

>>Conclusions: Looks like this move should peter out soon, if indeed it is of the nature of the 2 previous corrective moves.....the Soxx could run maybe a little further, and the BTK too...but not much....The highflyers have already made an enormous move.....<< I tend to agree with you which was why I was planning on getting out Thursday then was sure Friday I would be getting out Monday for sure. However see my earlier post on why I think this could push a bit further before dying. When I checked bounces in stocks that dropped first back in April 98 and then watched the bottoms, bounces, retests etc which led me to my pop drop and rally scenario, I noticed many of teh moves where in teh range you stated but mostly averaged around 50% which isn't surprising since that is the Fib range ( 38, 50, 62). Therefore I suspect the NASDAQ and NDX could retrace about 50% of the January to April 4 drop or remotely possible the September to April drop. The January bounce was not a typical corrective wave due to the Fed's interference IMO. BWDIK Good Luck, Lee

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