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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: StockOperator who wrote (36961)6/13/2002 4:37:20 PM
From: StockOperator  Read Replies (1) of 52237
 
"Why should anyone have any confidence in the major avgs being able to hold those lows when so many individual stocks have ALREADY failed to do so."

I once again repeat that statement with the take out and daily CLOSE today by LSI (Sept. low). Just another one of the many that have already done so. Watch SUNW it could very well do the same tomorrow. What about KSS? The stock that has chased more than a few premature short sellers out of this business. We are oh so close to that major reversal. Watch that close in two weeks, anything below $72, especially $70.5 would be my first big clue that prices could be heading south on a more permanent basis.

Once again there are going to be counter rallies along the way. When it comes I expect it to be a short and extremely fast move, similar to a stock with a good premarket announcement. They open the stock much higher and don't let the little guy go along for the ride. I say this because there is just such a small amount of wiggle room in a whole host of stocks. Remember there are still a whole bunch of stocks like KEI, ADBE and CSCO that have yet to come under the brunt of their downward pressure. I would also throw LEH and FNM into that group that are about to finally break a sideways trading patterns.

Edit on my SUNW comment. SUNW could very well break into all time lows tomorrow. It clearly has taken out those Sept. lows some time ago.
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