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

To: Paul Shread who wrote (36817)	11/30/2000 2:10:04 PM
From: donald sew	Read Replies (2) \| Respond to of 42787

Paul, I think that the "3-WHITE SOLDIERS" on the DOW may get negated soon. However must say that it has really been putting up a fight a great fight, especially in such a down market. If we did get the 3-BLACK CROWs yesterday in the NDX, I would have set up a strategy to go strongly short yesterday. With yesterdays late rally, I did close another portion of our shorts in the WEBSITE account assuming that it was a hint of a bounce starting, then the news after hours - and smack-smack. gggggggg The NDX already broke the horizontal support at 2470, so the next horizontal support is at 2300. This specific short-term downswing started at 2914 on 11/27. For discussion, lets say that this short-term bottom is around 2300, so I suspect that the forthcoming bounce should be at least 38% of this 2914-2300 range, which would put the NDX back around 2533. Im not saying that it cant go higher than 2533 if 2300 is the short-term bottom, just the minimum bounce. If 2400 is the short-term bottom, then the 38% level would be around 2595. I realise that many may argue that I should use a higher starting point, like 3515 of mid-OCT. Im just keeping it conservative until we get the retest which is statistically likely.