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

To: adcpres who wrote (35739)	11/16/2000 2:14:40 PM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

We completed the predicted move out of that 7-8 day pennant (on the NDX, it had about a 550-point pole, and we declined to 2742 from the 3300 breakdown point. The new pennant that took two days to form should carry us as low as 2500, and a minimum move to 2850 is called for. However, the fact that it is occurring after a steep decline and not (yet) taking off to the downside means that 2850 may have been the bottom. I'll give it another day or two to pick up to the downside; the market sometimes hangs around for a few days before declining in earnest. Just covered my short at 3000 for a modest profit, so now the sell-off can begin in earnest. ;-)