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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 (29990)	9/17/2000 11:31:46 PM
From: Peace	Read Replies (1) \| Respond to of 42787

Hi DMP, Overall I have been optimistic because the intermediate trend is up. I was expecting a ST pullback around the time this correction started but I was way off on the magnitude. Most corrections tend to be retracements in the 38 to 62% range and I was suspecting that this one would be closer to 38% but it has turned out to be a bit over 62%. I still expect that once we have this correction behind us (we probably put in the bottom last week) the next advance will get us above the recent highs. Right now we are at a critical juncture and if we do violate last weeks lows (NDX 3610) convincingly, I will change my outlook. I mostly take stock positions along the intermediate term and hold them for weeks or even months. When I expect pullbacks during this trend, I will often buy QQQ puts as a hedge for the short term. This has been my style due to time constraints. In the last couple of months I have had more time to watch the markets and have been trying to do some short term trading too. Peace