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

To: donald sew who wrote (28899)	9/1/2000 11:25:48 AM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

I've been looking at 150-period hourly charts today and have a number of observations. The two easiest are on the NDX/COMPX. It looks like both turned back just below the upper boundary of their wedges this morning if you make one adjustment: throw out the 8/9 peak on the COMPX as an aberration and draw the line starting with the two peaks before that, touching on today's intraday high. The NDX is much clearer. If you throw out the wedge breaches on the SPX and redraw the lines to include the new peaks and valleys, we still have a rising wedge. If you do the same on the OEX and the Dow, you have parallel trendlines. My question: would you retain the old wedge lines on those three indexes, or redraw the lines to encompass the breaches?

To: donald sew who wrote (28899)	9/1/2000 11:26:42 AM
From: Paul Shread	Respond to of 42787

Thanks, Donald. Very thorough. Richard Cripps is on CNBC pointing out that September is typically the worst month of the year.

To: donald sew who wrote (28899)	9/1/2000 11:40:07 AM
From: sandeep	Read Replies (2) \| Respond to of 42787

Donald, I don't see why you keep on trying to be a pessimist (or a realist depending on one's viewpoint). What do you see out there that can derail this thing ? Slowing profits ? Trade war ? Thanks.

To: donald sew who wrote (28899)	9/1/2000 12:23:02 PM
From: allen menglin chen	Read Replies (1) \| Respond to of 42787

Don, Stock newsletter writers were only 47% bullish (43% was the 2 month low last week), comparing to 54% from late July 2-month high. Short interest continue to climb from Aug 4 low, according to IBD's Aug 31, and Sept 1 "The Big Picture" column. "Still, many investors haven’t been convinced. Bullishness has declined among newsletter writers, while short interest has been building. Since the first week of August - while the major averages rallied - investors have been selling more stock short, betting that prices would drop. Now they’re getting caught in a squeeze. That gives the market an extra source of fuel as short sellers rush to buy stock to cover their positions." investors.com