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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 (39718)	1/2/2001 12:46:10 AM
From: craig crawford	Respond to of 42787

>> What are people using as a sign of a bottom? << Broken stock charts don't portend when a bottom occurs. Only in hindsight after stocks have rallied a significant amount will TA people like yourself turn bullish.

To: Jack T. Pearson who wrote (39718)	1/2/2001 12:59:33 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

>>What are people using as a sign of a bottom? << Major capitulation, a Time Magazine covers with big cratering stock market headlines, candle sticks like hammer bottoms on huge volume and certain posters here on SI that still are buying every dip finally posting bearish things and giving up. Things like that are good signs. I would like to see the COT show some short covering as well. Good Luck, Lee

To: Jack T. Pearson who wrote (39718)	1/2/2001 11:11:35 AM
From: StockOperator	Respond to of 42787

Jack, <<<"I sure can't find anything to be optimistic about in the charts">>> I agree. I tried to convey the same point in my message over the weekend. Today's action across the board is a reflection of our poor technical picture. Just look at the trading in the stocks that I pointed out in my last post XLNX, NTAP, ORCL, SUNW all breaking down at critical points on their charts. I hate to say it but when I look out over the horizon for most charts and assess the overall damage done, the impact on our economy is going to be much more severe than the Battapaglia and Cohen's of the world are anticipating. Prices are breaking into new lows across the board. Considering the lag time involved for any Fed easing and the very distinct possibility of only a quarter point move. The downward spiral in prices should only continue. My approach has always been to follow the technical picture of what's in front of me at any given moment. An approach that has saved me through this entire downdraft in prices as well as the melt up in 98 when so many of the pros were calling it wrong. If Greenspan comes in hard to save the day (the earlier the better) that action should be reflective by sharp turnarounds in prices. But with stocks breaking into new lows this fact alone tells me that the ramifications of this entire bearish move is probably much broader than most analysts are anticipating. Good trading.