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

To: adcpres who wrote (33980)	10/24/2000 10:30:26 PM
From: Casaubon	Respond to of 42787

TA is nice BUT it cannot predict the announcement of news and the affect good or bad it may have on the market. Don't forget; there are two types of TA. There is TA for individual equities and there is TA on Market Direction. Market direction TA is like the tide and individual issues are simply vessels traveling along the ocean of liquidity. Clearly Peter Eliades (timely sign of the bear indicator) and fund inflow levels (waining). Raised serious concerns regarding the tide. There were also many, many warnings regarding missed revenue from some great companies. IMO, the TA did support further downside, thus I did not buy the previous "bottom". The spike in the put/call ratio did signal a short term bottom but, I thought it too risky to buy ahead of MSFT earnings in this environment. Then the put/call ratio spiked in the other direction signalling the ultimate in complacency. Oh Well, maybe we will get a good capitulation day to buy some good growth at fair prices. Too bad I got shaken out of my JNPR short. I'm short some biotech, maybe I'll make some coin. PS Even though I did not hold SPX through MSFT earnings, it came within 6 points of my target.