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To: AllansAlias who wrote (17345)	9/11/2000 4:29:04 PM
From: pater tenebrarum	Respond to of 436258

why? it's not worth that much... note, i'd carefully await the action at that support trend line, and once it falls, the action at the horizontal support that comes into play subsequently. when the Nikkei did it's stage two dive in '90, no-one believed it at first either... on a weekly chart the whole NDX action from the May low can still be potentially characterized as a wave 2 or b...if so, we're going to go lower. however, the potentially bullish wave 5 scenario ain't dead yet, especially with the collapse predictions that have a habit of showing up near lows...

To: AllansAlias who wrote (17345)	9/11/2000 5:17:08 PM
From: TheStockFairy	Respond to of 436258

Don't forget about the WCOM dumper, one that I lived in for a few years.

To: AllansAlias who wrote (17345)	9/11/2000 6:12:33 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

bears are saved!! Message 14364557 HO HO HO

To: AllansAlias who wrote (17345)	9/11/2000 9:57:54 PM
From: Perspective	Read Replies (2) \| Respond to of 436258

The selling pressure in CSCO and INTC is approaching levels only visited in the April & May mini-panics. Crisco would really grease the skids for a serious slide if it does take a header through its 200DSMA. I'm torn right now; tempted to cover my shorts and wait for another bounce, but tempted to add if it spends much more time fighting for air here. Each successive test of this long-term support becomes more and more likely to fail, and when this pig breaks - words like "catastrophic" and "devastating" seem so trite... Forget the Ides of March - beware the Ides of October. BC

To: AllansAlias who wrote (17345)	9/11/2000 10:15:11 PM
From: Perspective	Read Replies (3) \| Respond to of 436258

I agree with the idea of buying on that trendline test, much like I should have been buying on the 200DSMA test today. They WILL make an attempt to save it there. I hopefully will be able to take advantage of that, but strictly for a short-term trade. I'll be in for about 10% in the favorites, and then re-establish shorts. My question is: what does one consider to be a trendline failure these days? NDX spent nearly a week underneath the trendline in both of the previous tests. I guess I was guilty of seeing intraday failures in SOX and NDX at old lows and thinking the whole thing was coming unglued. Maybe I need to see two consecutive down closes below the line? Maybe the churning action without further downside progress should have tipped me off to the upside outcome? I used to be able to smell bottoms (pun NOT intended!) by waiting for the composite put/call ratio to spike up over 1.00. I think it barely crossed 0.9 for just a single day during the previous southward expedition, which meant I was caught awaiting further downside. BC