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: StockOperator who wrote (17954)	9/7/2001 3:41:09 PM
From: StockOperator	of 52237

Charts are buckling everywhere. Last months lows are being taken out everywhere. As we head into the end of the third quarter prices have reentered the "windtunnel" of price pressure blowing from the very highs in 2000. Any kind of pop at this stage is going to be feeble at best. I say this because I believe in the case of many stocks their quarterly pressure will force a retest of last qtrs lows. Make no mistake about it if stocks cannot mount any kind of rebound in the last qtr. of the year we will see NAZ 1000 by the end of the year. That downward pressure will not abate until you see some sort of significant reversal that will most likely come on the heels of some sort of flush on extreme negative sentiment and then turn??? Who knows but to have some kind of significant rally you have to have the structure in place to sustain a long time move. That structure in not in place for a whole bunch of stocks across the board. Look at the major qtrly reversal for stocks like AHAA. What about MU which has just started to break down and is pointing towards lower prices. One look at a monthly chart will show a clear rolling over in prices. Not exactly the kind pattern condusive for higher prices in the next couple of months. Look at XLNX which is suspended in air as far as it's price in concerned. This stock is going to have to either break out higher here or it will definitely come under the same pressure the rest of the semis will face the over the next couple of weeks. This is truly a fork in the road that prices are going to be forced to make and right now the structure of things is not positive. Now of course this month is not over yet. The FED can come in any day and try to save the day however that response won't satisfy the bulls as far as this quarter is concerned. Time will tell.

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