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: TechTrader42 who wrote (14608)	8/10/2001 4:12:56 PM
From: Justa Werkenstiff	Read Replies (1) of 52237

Brook: What is fueling this "rally?" Why the short covering is the driving force. The shorts are like brakes. They put the brakes on any decline and give a bounce and the longs find a false bottom in their covering. Your point about the VIX is on target. There will be no mileage in this rally IMO. Longs are in already with that kind of VIX reading (22.81!!!) and shorts covering today are looking for the rally to sell into again. Bottom line: A lower low today in the Nasdaq in this downtrend. Bears are in control here despite any bounce.

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