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

To: adcpres who wrote (34940)	11/7/2000 3:25:50 PM
From: Paul Shread	Respond to of 42787

Redrawing the lines is standard TA practice; I think it's particularly valid in this situation because you wind up with wedges either way. Regardless of how you draw it, this is a technically weak rally. I think the NDX looks like a genuine breakdown: it occurred on a gap down, with rising volume, and retraced to the lower trendline and was rejected. Time will tell. CSCO could still be a broken pennant/wedge: the index failed to get above the apex at 58-58 1/2. I did not short anything last night, but only because I got tied up until shortly after 4 and missed the opportunity. I probably would have covered this morning had I shorted something. Am just watching for now, to see what develops.