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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: ok1day who wrote (22631)	9/29/1999 11:29:00 PM
From: stan s.	Read Replies (1) \| Respond to of 43080

It's unfortunate the Dow gets so much attention. The Naz and the NYSE are far more important for the stocks we trade. But because people (media) fixate on the Dow it becomes an indicator on it's own. There's a little support at 10,000...my hope is that point, combined with the psychology involved, will hold. The trick is getting the Naz to 2600 and then have it hold. I'd like to see all this happen and coincide...so as to start a uniform leg up after the FOMC meeting. It'll be tricky but it could happen. By the way 2600 is important for the Nasdaq because without a true 10% dip...it ain't a correction...that point might also coincide with the uptrending line that has been holding for the Nasdaq heretofore, depends on when it gets there. Did you see the chart I posted to ynot? It's got the Naz line on it. Stan