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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (27654)	8/14/2000 7:19:18 PM
From: Dave Shares	Read Replies (3) \| Respond to of 42787

<<It would seem that we have a high probability of failure here. >> I sure as heck hope you are right, as I bought Dow 110 Sept Puts at close since the volume did seem pathetic. Also bought some XBD (AMex Broker) index puts here with some mad money. I notice that XBD making new highs but MACD histogram not making a new high, which looks like a negative divergence. These puts don't trade, but I see no other way to short the brokers as a group. On the other hand, maybe that was a message to me to stand aside. Guess we'll see. David

To: Paul Shread who wrote (27654)	8/14/2000 9:17:26 PM
From: Peace	Respond to of 42787

Paul, I agree that a breakout looks healthier when accompanied by increased volume. Keep in mind this volume is not so bad in light of the usual August vacationing period. We can always confirm the rally later when folks return from the fun in the sun. <g> Peace

To: Paul Shread who wrote (27654)	8/14/2000 11:05:05 PM
From: donald sew	Respond to of 42787

Paul, >>>> "It is ... essential that an upside break in price be confirmed by a marked increase in trading volume; lacking volume, do not trust the price achievement." It would seem that we have a high probability of failure here. <<<< Tie that in with a VIX setting a LOWER LOW and NEGATIVE DIVERGENCE is some other technical indicators like the MACD, I agree. So I do believe that we are at a short-term top, or a day away. However that still doesnt mean that there will be a large selloff, it could just mean that RANGE TRADING will continue.