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

To: jimcav who wrote (30403)	9/20/2000 4:46:22 PM
From: donald sew	Respond to of 42787

Jimcav, >>>> , looks like a dragonfly doji on the daily SOX. Reversal tomorrow? <<<< Close enough. Although the SOX rebounded nicely, it still lagged the NAZ/NDX. No its not conclusive, but as I have mentioned often, if the SOX continues to lag the NAZ/NDX I will consider that as a negative. Per my short-term analysis the SOX just entered the overbought region and if it continues up it is 1-2 days away from a CLASS 1 SELL signal. Although the NAZ/NDX showed strength relative to the DOW/SPX, the DOW and SPX had technical damage today, and Im not sure that it is wise for those who mainly watch the NAZ to assume that such technical damage in the DOW and SPX will be resolved immediately. As for a reversal in the SOX/NAZ to occur tomorrow - my short-term technicals show there is still a little more potential upside, so I dont know. However I did add a small USPIX(short-NDX) today. I was 90% cash and this new USPIX position was only around 5%. For me its 50:50 for a reversal to start tomorrow, so since I had so much cash, I felt I should start legging in now on the short side.