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: donald sew who wrote (16747)	8/24/2001 9:39:39 PM
From: Justa Werkenstiff	Read Replies (1) of 52237

Don: The Vix is amazing here. Did not think it would make a lower low than the beginning of August. It did with a huge spike down today. And it did not print a higher high this cycle despite the new cycle market lows. I am not sure you will get your Class I sell signal. I don't think you have had the market get to a closing Class I sell signal in some time. I am not sure about playing the your sell signals as one would in a "normal" market. Over the past few weeks -- when playing the long side -- the best rule of thumb has been to take the money and run. I followed that rule today. I was reminded of the MSFT mid-July pop and fade and thought it might be deja vu all over again. Rule there was to sell within two days of the pop as those were the highs. Difference now, of course, is that we are at the end of the month whereas MSFT announcment was in the earlier part of the month. I saw the squeeze potential developing yesterday. I saw it gather momentum this morning. And after I became convinced it would close at the highs, I let it ride to the close. I figured I could get the highs of the day or better in the aftermarket and not have to wait to see if the Friday-Monday rule would hold fast. It worked as I dumped it all there for premium prices. But I must say there were not too many shorts there in panic mode. I may have left some on the table, especially since all of CNBC was saying not to make too much of this rally and that it was probably short covering. When they say anything, I generally think the opposite. But I am looking to short any rally. All-in-all, this is setting up to be one nice shorting opportunity. I wonder what glorious upgrades and market calls we will get at the end of next week.

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