Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Stcgg who wrote (29419)	9/10/2000 9:34:20 PM
From: dennis michael patterson	Read Replies (3) \| Respond to of 42787

Stcgg, come on man!! The bears called for wave 3 down in August, and the damn thing just kept going up. Why is it different now?

To: Stcgg who wrote (29419)	9/11/2000 6:35:10 AM
From: donald sew	Read Replies (1) \| Respond to of 42787

Stcgg, >>>>> Similar to the March tops, we see another double top formed from July 17th and Sept 1st on the Naz.. From the March double top, the index sunk ~2000 points in a Wave 3 decline, labeled (W3 of W1 down in a new bear market).. Now we are peering into the abyss on a W3 of W3.. This 3rd of 3rd could sink the index to ~2150 area,..... <<<< I do agree that the potential of a DOUBLE TOP is there; however as I have always stated that Im not one to subscribe to the big move in either direction since Im a firm believer that the probability of calling the big move is low and at best only 62%. That is not to say that your prediction cant come true, just that its probability is at levels which are low. This is not focus at you specificly, but an explanation of my though process. Many talk in terms of the absolute, where we hear comments like "the market will do this or that" and words like "definitely" and "absolutely" are used. Im a firm believer that there is no absolute, and I specificly attempt to determine the probability of a certain move, since I do my best to back my research up with statistics. Last weeks break of the BEARISH WEDGES does give support of further downside, and what does give support to your belief that of a huge selloff are the BIGGER BEARISH WEDGEs in the NAZ/NDX/SPX/OEX/other HiTECH sub-sectors, which are best seen on the weekly charts as mentioned in my last index update. As for me personally, I will definitely NOT ignore those factors, but I also wont say it has a high level of probability, at least not yet. If/when those BIG BEARISH WEDGES break to the downside, then the probabilit increases, but until then Im keeping it as an important mental note. seeya