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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: jsavage who wrote (37547)	11/23/2000 2:28:40 AM
From: Doug R	Respond to of 79444

Jeff, ACPW's chart looks like just about every other chart out there right now. Low. Too low. On 11/6 it had that high volume day with a gap down but a close near the high. Then the Naz 100 made a beeline toward the 2612 mag target taking lots of stocks that were hinting at a possible bottom even lower. The Naz target is just a chip shot away and that can happen in no time at all. Buying stuff that's simply just too low before a bottom usually works better than waiting for the bottom then chasing everything once a rally is obviously underway. ACPW may go a little lower but it could also get well over 20 before you know it. Magnatizer has the right idea in his commentary on his page: "2667 low today is within ear shot of 2612. I still feel 2612 level will be seen. It should be solid support and therefore I felt it wise to start a long position (¼ of desired position size) today in the QQQ just in case the dip does not quite reach 2612." If anyone is waiting to catch the VERY bottom of this ugliness...don't blink...imo. Doug R