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: Arik T.G. who wrote (32389)	4/23/2002 2:01:55 PM
From: Arik T.G.	Read Replies (1) of 52237

Weekly comment (Hey It's been a month but I don't like a Monthly comment header) Last time I got it right >>Monday, Mar 18, 2002 7:15 AM This week is going to be very important to gauge future trends. My course of action will be to short every advance in the NDX and SOX, short the S&P as close to 1180 as possible (edit: after it confirmed it's not a runaway market by making an Ending diagonal or something, will update later this week). S&P 1152-55 area held, 1180 still the target area. That could be the best shorting opportunity of this year, or just a ST top. By the look of the Naz I take the former. <<end quote>> Well the S&P did make a small ED and the following day the futures made 1177.5 and dropped. It's now 70 points lower. NDX failed to move higher and dropped from 1523 (March 18th) or 1519 (March 19th) to currently 1335. Now what? The OEX is inches above the slightly inclining support line (currently at 546.3) and looks like it's about to break it (60-40 chance IMO). The last time the OEX jumped from support on the 15th it had a big up day on the 16th and no follow thru. Now it's back to support, and it may break it straight away or make small dead cat bounce of it before breaking support. SOX OTOH, although down 4 days in a row, could be viewed as it has completed a corrective move down and should start higher today. Anything over 597.5 will confirm SOX up. BKX still has one or two more pushes up to a marginal higher high (this could take 3-8 weeks) to complete a GIGANTIC ED from the 1998 low! Message 17370187 ATG

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