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

To: StockOperator who wrote (38305)	12/18/2000 12:09:29 PM
From: Paul Shread	Read Replies (1) \| Respond to of 42787

The Fed can stop it if they want; they started it, they can end it if they cut enough (2 cuts minimum). To me, the interesting question is, if the Nasdaq's recent action was a bear flag or pennant, then how big is the pole and thus the predicted down move? I come up with anywhere from 470 points, calling for a retest, to 900 points, calling for much lower lows. Would appreciate other views on that. Was the move down from 3400 a straight-line move, or were the two two-day consolidations before we hit 2523 big enough to interrupt the straight-line move and thus shorten the pole? I've been leaning toward the retest camp.