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: Gersh Avery who wrote (17211)	8/30/2001 7:31:59 AM
From: Jerry Olson	Read Replies (3) of 52237

Morning Gersh 1220 first??? no...1180 first which would be a 3 box reversal up..the SPX is currently on a sell signal off that triple bottom breakdown at 1160... it's nearing heavily oversold on the daily & weekly P&F chart...this index will bounce first ...before moving lower as expected later on.. the VIX is a good kissin' cousin to the SPX...this rally will take it up toward 28 again..if it gets there..in fact it's right as heavy R at the BRL right now...if it break or prints 29 the markets will tank large...i don't think it will...yet...my upside target was always 35-40..and my downside target is 18... the SOX is holding up well so far..any print of 520 should plunge the markets to new lows...not there yet...it too is nearing oversold levels again..with excellent support at 540.. so with all these indexs at levels that portend a bounce..i am playing it that way for now... the mother of all shorts has not appeared just yet...and i'm having fun, trading "against the trend" and against the thinking out there...for short term bounces only.. the Macro picture is dismal to say the least...and the carnage that we're witnessing has certainly taken it's toll...heck i was a net nut short bear from Mar of 2000...pounding the table to sell all rallies...nothing has changed... and this mnarket looks a hell of a lot worse technically than ever before...i would hazzard a guess we easily break the April lows...i've been saying that all along.. but not here and not now<VBG>... No Gersh 1220 is not in the cards here...first stop is a normal reversal up at 1180..if we can get that?? then??? 1200 would be the next logical move before that heavy double top at 1220... what with the Triple bottom breakdown of the DOW, i can foresee all other index breaking down as well...SOZ--BTK--BKX etc...the washout will come... we'll be ready for it...with all the cash we can muster...i have not invested a dime as yet..and have reco'd that same mantra to my friends...but..i'll be there with bells on soon enough...the risk reward will be right here shortly...

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