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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: yard_man who wrote (36788)6/6/2002 12:33:44 PM
From: Death Sphincter  Read Replies (1) of 52237
 
i'm making some assumptions that my be full of major stink,but may not.....Naz is doing a slow death drain into Sept lows, which could even be a controlled,symetric ED down from Jan highs which measures to a double/bottom(slight breach) of Sept low. While Dow/NYSE/BKX are following but I think they could fail to really get down there....this could set up a PRAISE THE LORD!!! A SUCCESSFUL TEST!! we are getting long term oversold and the long awaited BIG bounce could occur there....Ideally I would like to see BKX hold around 840ish as NAZ tests Sept low. BKX has shot to new highs off 1998 death bottom, Jan 2000 beginning of swoon and exploded off 911 panic. so IF<IF<IF we were to get a bounce off the Sept lows there could be a LOT of short covering and there is some $trillions on sidelines that could come out of hiding and a big relief rally could insue with BKX shooting up to finish off that potential ED around 1000 and if it really is an ED the following plunge would be devestating. Its just something worth watching to see if it materializes, and watch BAC if that scenario should happen as it would probably try to reach up towards its alltime high of 100...now if that were to happen and the BKX is an ED the plunge for BAC could take it all the way back down to 40 or even the 20's. lets just keep this scenario on back burner and see what developes over next few months

oops...meant to say 750-775 level for BKX to hold
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