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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: StockOperator who wrote (37458)6/27/2002 9:39:51 AM
From: StockOperator  Read Replies (1) of 52237
 
Listening to the various groups in Washington running for cover is comical. Lindsey this morning said nothing to reassure investors that Washington has a handle on this. Just a whole lot of finger pointing. Trust me when I say it that major change in Washington only comes on the heels of great pain. The catalyst being falling equity prices.

Yesterday's turnaround on the compx was not reaffirmed by many of the stocks that I follow, besides the DOW and SPX. With the futures pointing in the green this morning it is obvious how we're going to open. The thing to watch today would be to see where prices close relative to our open. If we gap up strong only to give up most of the gains (even if we close modestly positive) that scenario could set ourselves up for a ugly Friday. That's how the market weaves its web. It blinds people by the day to day gyrations. Also keep an eye on stocks like CSCO, which have the pressure bearing down hard. It has almost no leeway to the upside. Watching the close.

Good trading.

SO

Edit: We definitely got that gap.
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