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: isopatch who wrote (5912)	4/18/2001 9:32:26 AM
From: Paul Shread	Read Replies (1) of 52237

You and Michael made a great call, Iso. Kudos to you both. Was looking at daily indicators on the COMPX this morning, and with the exception of slow stochastics, this rally looks like it's only about half done. Should be headed for 2250. The chart set-up seems to point to that level too; consolidation at the midpoint and should break out today. stockcharts.com[h,a]daclyymy[pb50!b200!c20!d20,2][vc60][iud20!lf!ll14!lb14!la12,26,9!lh14,3!lc20!le12,26,9!lg] Was noticing in IBD this morning (page A20) that the put/call ratio might have put in a broadening top since late March and then retraced to the midpoint of that pattern. It's probably kind of obvious, but the P/C ratio should start dropping at this point. One thing holding up this rally has been the high level of bearishness; that looks like it should start to turn. Just some early observations. Will be watching that upper trendline on the Dow; looks like the rising wedge could get negated here, but we'll see what the cash traders do first. Keep up the great posts. Paul

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