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

To: UnBelievable who wrote (33118)	10/16/2000 11:37:45 PM
From: NucTrader	Respond to of 42787

Hahn's take. >>At the very least, there's going to be a retest of Friday's low! It appears we completed an ABC relief rally today. When a price target gets hit before the time target (Oct. 20) gets hit, that opens up the potential for a move to a much lower target. The reason to stay in cash is the potential for a move through the first target. There are lower technical targets on the weekly chart. The technical situation remains precarious. The big capitulation event has been postponed, but maybe not cancelled. While no one wants to see further declines, I can't rule out a further drop. Nasdaq closed today at 3290.28. The chart below shows the retracement targets for this bear market rally. If the next rally is any good, there will be plenty of time to get on board.<< Different EWAver: >>Note that a mathematically correct Elliott Wave pattern, in full compliance with all the rules and guidelines, could have ended on Friday morning. That pattern, in turn, completes an A-B-C Elliott Wave pattern from the March high. There is a possibility that a several month long correction ended today. We are not going to act on it because of the position of the Op Time Frame Oscillator but we're not going to dismiss the possibility out of hand either. What to Do Now Short profits are the primary concern. If you implemented the stop loss strategy we have been promoting all short positions would have been closed during Friday's trading. We are not yet looking for a long position because we assume that this bounce is a countertrend move. We will reenter short positions when and if the opportunity presents itself during this wave 4. The Hourly Chart shows early price and time targets for its termination. BTW - he projects the wave 4 high to end between 17 and 19 Oct. with the next leg down ending either at 2844-2961 or 2557-2638.... Scenario Negation/Stop Loss Strategy If the NDX closes above 3505 the short trade strategy will be negated<<