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

To: dennis michael patterson who wrote (29349)	9/8/2000 12:48:38 PM
From: donald sew	Read Replies (2) \| Respond to of 42787

Dennis, >>> Confirmation is key. And the close today will be very important. Big tech holding up OK <<< Since I mainly use my short-term technicals, it commonly gives the contrarian viewpoint. If the overall market only bounces slighty, not alot, that would mean that I wont get a firm CLASS 1 BUY signal on a closing basis, which also implies that it could still head lower the next day and postpone a CLASS 1 BUY on a closing basis. What is better is that the market closes at near the lows which improves the probability of a bounce on MONDAY after some intraday selling, rather than the bounce occuring on TUE. I realise that many will think that Im nuts to say that its better to close low than up, but keep in mind that my short-term analysis is actually statistically viable. What is interesting is that CANDLESTICs has the same belief. A small shadow commonly implies continuation while a MAROZUBO during a market incline is a hint of a short-term bottom. Yes, Yes, Yes, I realise it is contrarian, but again it is statistically viable and also supported by candlestic. So if the market does not close at the lows then it would be better that the market starts a significant rebound today, otherwise it may extend the selloff. So I wont get bullish if we close slightly above the lows.