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: Jack T. Pearson who wrote (38431)	7/25/2002 4:27:44 PM
From: StockOperator	Read Replies (1) of 52237

<<<Tyco Bankruptcy>>> Jack, there's usually a basis to some rumors, which of course we know is no way to trade, but the charts are backing up that idea. In my post from Monday I mentioned that both TYC and IMCL were both in "do or die" positions. TYC's range this week alone is 12.70-6.98. Now take a look at IMCL on a intra-day 60 min chart. Big reversal last hour of the day into a h&s pattern. The damage is coming. Look at the damage in CSCO, QCOM, MSFT, semis,,,, a tech wreck my friend, confirming that yesterday was a one day wonder. Re the DOW. Some will get excited about an index that only closed down five. But that negative close could open the door for a push into lower prices tomorrow (a guess at this point). That close tomorrow may paint a completely different picture on the DOW, despite that 500pt gainer yesterday. Once again we shall see.

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