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

To: Galirayo who wrote (32236)	10/6/2000 3:39:49 PM
From: Challo Jeregy	Respond to of 42787

I capitulated last week <g>

To: Galirayo who wrote (32236)	10/6/2000 3:53:11 PM
From: HammerHead	Read Replies (1) \| Respond to of 42787

man, i was lucky to have large sum sheltering on LUcy and avoid the storm this week. got to diversify some to real bargain.

To: Galirayo who wrote (32236)	10/6/2000 4:54:22 PM
From: Stephen	Read Replies (2) \| Respond to of 42787

Ray - 'did anyone capitulate' ... according to briefing.com this was not capitulation .... 'Close Dow -128.38 at 10596.54, Nasdaq -111.06 at 3361.04, S&P -27.29 at 1408.99: [BRIEFING.COM] The session actually started off on a decent note as the market was somewhat encouraged by the employment data... Non-farm payrolls rose a higher than expected 252K, 204K excluding strike and census workers, while the unemployment figure was 3.9%... The later series of data was a retest of the April low and also a 30-yr low... While the market was encouraged by the fact that solid economic growth continues, it was unable to overcome the firmly negative bias that has dominated over the last month and the numerous earnings warnings that have come to light this quarter... Speculation of late that the Fed could be moving to an easing bias was also pushed firmly to the wayside... Adding to the negativity of the session were warnings from Veeco (VECO -34 31/32) and Hyperion Solutions (HYSL -7 5/16), weaker sales from Lowes (LOW -1 5/16) along with downgrades on AT&T (T -1 9/16) by Salomon Brothers and Home Depot (HD -2 11/16)... As the session progressed, the financials took up the bear leadership... There were rumors that many of the issues would not be able to meet their earning projections due to significant losses in their bond portfolios... There was little of interest taking place with the losses across the board... The only buying being seen was in safe haven plays, utilities and Treasuries... The Nasdaq has now closed lower in 10 out of the last 12 sessions and it declined 9.1% on the week... Over the last two weeks the Dow had remain confined slightly above its 1998/2000 trendline while the Nasdaq slowly began to catch up... Today both of the indices staged a bearish breakout through their respective trendlines... These come into play roughly at 10,650 in the Dow and 3445 in the Nasdaq... Although volume was very heavy, there have been no signs of capitulation, merely of a constructive meltdown... The main stocks of interest on the upside for the Dow were IBM (+2 9/16) and P&G (PG +15/16)... DJTA -24.65... DJUA +3.72... SOX -33.01... DOT -33.19... XOI -4.51... BTK -25.34... NYSE Adv/Dec 851/1977... Nasdaq Adv/Dec 1086/2894. 15:30 ET Dow -192, Nasdaq -150, S&P -37.84: [BRIEFING.COM] It was bearish earlier in the session, it turned ugly and now it is getting scary... This has not been the massive sell off related to a particular event, this is worse... Despite the dramatic declines over the last month, the indices have yet to reach a level low enough to bring investors back into the fray... Over the last two weeks the Dow had remain confined slightly above its 1998/2000 trendline while the Nasdaq slowly began to catch up... Today both of the indices have staged a bearish breakout through their respective trendlines... Volume has been very heavy but there have been no signs of capitulation yet, merely a constructive meltdown... DJTA -33.08... DJUA +3.79... SOX -41.54... DOT -48.65... XOI -4.42... BTK -30.40... NYSE Adv/Dec 831/1959... Nasdaq Adv/Dec 948/2991.' fwiw ... Regards Stephen