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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: StockOperator who wrote (34925)5/1/2002 10:13:47 AM
From: StockOperator  Read Replies (3) of 52237
 
Now that we got the monthly close out of the way, let me say that nothing has changed about my views of where I see things going. This past month has offered us significant technical damage in charts represented by a broad group of stocks and that damage should be a precursor of things to come. The trek into multi-year lows should continue. More significantly, the past month has offered us a reversal in the VIX, ending the downtrend of the past couple of months. That reversal alone should be a warning that the environment for prices has changed from our Sept 11 intermediate term bottom.

Yesterdays trading in LLY brought into light the weakness in it's chart building for the past couple of months...with SUNW's news this morning the stock will be trading into multi-year lows along with ORCL...the breakdown in DIS has already begun...I'm expecting more significant breakdowns in companies like CIEN, KEI, MERQ...while the damage in stocks like AOL and QCOM should just get worse...in other words more of the same. I hate to be bleak but it's just what I'm seeing.

Good luck trading.

SO

Edit: The climate in today's trading sure has changed from the start of my post. I walked away for an hour only to come back to a lot of red. Anyway, good luck.
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