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

To: Jack T. Pearson who wrote (36551)	11/28/2000 4:38:30 PM
From: StockOperator	Read Replies (2) \| Respond to of 42787

Jack, Let me just say that I believe this election mess has very little to do with our current market environment. When I look at the charts I start out with the very longest time frame and then shorten it simply because it is the longest look that dictates where prices ultimately go. A good point would be to look at the long term chart (weekly) for RNWK and AOL. What you find is a huge head and shoulder pattern. This pattern overall will dictate just how far these stocks will ultimately carry within their overall patterns. That is why I believe this election mess is just a good excuse or "label" we can paste on this downdraft in prices. The fact of the matter is this weakness is based entirely on the structure of the charts that has been building now for months. The weakness is BRCM for example is months in the making. Tops and bottoms usually take some time to form. My guess (which is all it is ) is we are seeing the end result of a FED that has been tightening and a stock market that is telling us that it it worried about corporate profits going forward. Recession?? A definite possibility. The beautiful thing about the street and the press is that they always find a way to label what ever goes on, and just for a moment it always makes sense. Just MHO. Good trading. SO