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 (34897)	4/26/2002 3:29:48 AM
From: sean sanders	Read Replies (1) of 52237

SO, first off I appreciate your views on the market ... To be blunt; I am not sure how you can compare a few select stocks and say that these are 'looking' ominous so the market will probably fall. I cant tell you how many times I have played a pattern before the breakout and found out that I just lost my shirt <g>; that includes h&s, dbl tops, asc triangles etc ... Now this isnt to say many stocks right now are precarious in their positions or look like they may head lower to a degree (big or small). Many stocks also could appear to look like they are bottoming out and ready for a roleover to the upside. Also, I do feel the major indicies are sitting on a tetter totter right now; either they regain their balance and head back up or they loose their balance and they hit the sand. I'm no master chart reading; and I bet I barely make a novice; but from my study of the 'charts' I have found that there always seems to be more then one side of a coin. Something I didnt see; something that just appears out of nowhere sometimes. Example; while MSFT weekly chart does look like a sym triangle; if you draw your trendlines in a particular place you can make out a ascending triangle. GE weekly; again while it does appear we are fullfilling a h&s top; if you draw your trendlines a certain way you can make out a descending wedge. And to be humerous I'm not sure how much lower WCOM can go; we got to turn around sometime ... dont we <g>. and to get to the few you mentioned; DIS; well well ... looking at the weekly again; we are sitting at quite a strong resistance; so like you mentioned either we push up and forget the whole thing or keep going down now. HD honestly I tend to agree with you; I see a push back down before we have a chance of going up again. anyways ... my point was/is not to throw sand in your face for your point of view; again I appreciate your point of view and like looking though your eyes of what you think the market will do. I'm just giving another point of view ... Sean

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