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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: StockOperator who wrote (37582)7/3/2002 10:59:11 AM
From: StockOperator  Read Replies (1) of 52237
 
Unlike people charts don't lie - LEH and JBL both consolidating patterns representing unresolved issues by the bulls and bears; MERQ today up almost $2 at one time equals a "gift" to the short sellers; what about a stock like FNM which trades sideways for almost 20 months only to have broken for ONE MONTH, the length of the consolidation should tell you that more is coming; what about BA which I have been mentioning along with the h&s for both the $TRAN and FDX, BA is hitting a technical "do or die" point that will be resolved this qtr., just watch its price; My point being that these are technical realities. Just like AMZN or DIS breaking right where there suppose to. So when I hear talk of signs of capitulation in prices I say where? Look at SUNW, SFA, QCOM, and CSCO all showing nothing more than a "grinding" of prices lower. Where is the extreme selling? Combine that with the fact that you can still find stocks that haven't even showed their hands yet, besides the obvious close on the NDX below that Sept. low, and you still find investors with a bottom fishing mentality. Money managers still saying "buy the dip" and stay strong. A complete lack of respect for a bear that in the end will get both their attention and respect.

Profitable trading.

SO
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