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 (37144)	6/19/2002 1:25:18 AM
From: StockOperator	Read Replies (1) of 52237

Alright, got enough time for a quick update on the trading overall. My posts this week have been pretty much focused on the immediate trend. Remember my long term roadmap tells me that there's going to be greater pain coming for stock prices. But my approach to one day ramps like yesterday, or even my approach to that massive two week move at the beginning of March, is to tackle the market one stock at a time. I have often said in the past that bullish (or bearish) individual chart patterns would have to play out similar in the overall indexes. I take this approach because I understand how the market loves to weave it's trap by backing and filling the stocks that have already seen the greatest fluctuation, while doing their dirty work on stocks like QCOM. Technical damage that needs to take place for this bear to keep rolling. That's why AMZN cannot hide forever. Anyway, my comments this week on the semis, QCOM or even CSCO was simply because these are companies that I believe have some unfinished business to the downside before this month is over. That is why I said earlier this week that I did not expect any kind of "headfake" rally prior to the end of this quarter. Based on the close today I believe the market has set itself up to do just that. Plenty of ugly closes out there. Yesterday's one day event should play out ugly for some of the stocks I've been mentioning. The next quarter should bring us absolutely more of the same. Even more painful as stocks grind down to even lower levels. Scary??? Yes indeed, I mean I have stocks like DIS that are just starting to roll over. Remember my comments from the other day, CIEN 100% retracement of its entire move! Let me finish off by saying that we all live and die by own decisions. No one should take my word or anyone elses for scripture. All we can do is accumulate as much info as possible and then make a decision. But that decision is our own. My time here, as infrequent as it's been has always been about speaking my mind to those just learning this crazy game of investing. The guy that usually is left holding the bag on W.S.. It's also fun getting the best of the professionals out there. <gg> The rest of the week should be interesting. Great trading. SO

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