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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (33967)4/9/2002 5:23:16 PM
From: 1podstock  Read Replies (1) of 52237
 
Paul, we've had days of black marubozos on Nasdaq, a highly reliable bearish candlestick that implies downward action for the next few days.

However, there's always been mysterious buying of huge lots of S&P contracts the next day or thereafter, and away we go as Nasdaq soars higher

With the action of Greenie and the PPT, it's gonna be a lot harder to MANUFACTURE the rallies, b/c shorts have already been blown out back in Oct-Dec 2001.

There are still shorts out there, but they've got more conviction (gee, whatever happened to the strong 1st half recovery?) and/or are not shorting as heavily, thus leaving more leeway for these "rallies" that seem to come out of nowhere. Like yesterday, for example, when IBM warned but Nasdaq closed at high of days.
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