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

To: donald sew who wrote (34039)	10/25/2000 3:20:08 PM
From: donald sew	Read Replies (2) \| Respond to of 42787

Previously, I mentioned that I may play for a bounce. With the selling intensifying, I dont think I want to play for the 1 day bounce.

To: donald sew who wrote (34039)	10/25/2000 5:57:29 PM
From: StockOperator	Read Replies (1) \| Respond to of 42787

Don, I'm sure the vix can and will go higher if this downtrend continues. The amazing thing about this whole rotational correction is that it has left (SO FAR!) longer term bullish trendlines intact. Even SDLI experiencing an almost 82 point drop in one day is still bullish longer term. I think the obvious reason for this is that stocks over the longer term simply got ahead of themselves. The obvious question now is what's going to happen when this downward selling pressure (trend), which is picking up more steam every day runs into the longer term bullish trends established from this great bull market. These forces are converging on one another and when they meet at their apex only one direction can win out. The fact that we are not seeing readings on the VIX similar to April's or 1998's, combined with still lofty margin debt by the public probably means we haven't seen the capitulation necessary for a solid bottom. Let me just say that the way these trends have established themselves I believe November may become a make or break month with stocks like CSCO really having to defend key support levels (50), or the NAZ with 3000. I wanted to finish off by saying that I am always amused at the games that Wall Street plays. AMZN today is a good example. There was plenty of favorable talk regarding their numbers, (not sure if it was upgraded or not), anyway, the stock has been under pressure for some time. I just hate the dog and pony show. Today it only managed a modest rally. I believe it is definitely going down from here. I also believe the selling in RMBS will accelerate. Regards, SO