Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: 200ma who wrote (37509)	12/7/2000 12:53:28 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

No, Don's three day pattern is generally the first day makes a strong move up, then day 2 is flat to down slightly then day three is also up strong. Of course it works in reverse also. Day one down strong, then day two flat to slightly up then day three strong down. His point was that yesterday was so big that it probably was a stretch trying to apply this pattern to the next two days as I and I am sure others had hoped. Heck if I am sure about anything in this market with the Gore mess going on. My only negatives other than that are the decline of the dollar which is being verified with expected moves up in the XAU/Gold and my high low chart banged it's head on the resistance line that I was hoping it could power through. Other than that I am not as bearish as many have already turned. Until fib retrace levels are breached, I still see a chance for another attempt at a move up. We could still get a 50% retrace of the last two days gains and be in a short term uptrend and legally, 62% is still considered a valid fib amount. I figure as long as we can hold about 2650 or so we are OK. ( Guestimate) The severe drop was in the DOW but I was expecting a DOW drop for the last few days and am actually relieved to see it finally coming. The Bank news was also expected and we all knew that the PC industry was hurting so no foul there. We need this election mess to clear up and we need to keep the warnings to the little companies we know are trash. EMC seems to be giving the all clear so now we just sweat SUNW, GE, CSCO etc. GE may be at risk with credit exposure and the doing away of pooling of interest writeoffs. Also not sure what a QCOM announcement would do to us. I would hope that the smart money is staying away but then again, they were buying the Dot Bomb fairy tales and thought they were real so not a lot of scholars holding those jobs either to count on. Good Luck, Lee