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

To: Paul Shread who wrote (42259)	2/7/2001 5:00:46 PM
From: Daveyk	Respond to of 42787

Thanks Paul.After looking at your charts I agree.Once again PnF target for comp is 2300.I prefer position and long term trading but in this market I've become a scalper.

To: Paul Shread who wrote (42259)	2/7/2001 5:01:29 PM
From: John Carson	Read Replies (1) \| Respond to of 42787

Paul, problem with technical analysis is choosing points to draw your lines through. In your COMPX and NDX charts, why not make the first point the close on the day before Greenspan did his surprise cut. If you do that you can draw a line through that and the close today including that intermediate point. Those lines suggest to me that we closed at the bottom of the channel today, only breaking through it momentarily as CSCO hit 30. If we did not rally in last hour, I would tend to agree with you that the channels were broken, but we did have a minor rally. The opening tomorrow should be interesting.

To: Paul Shread who wrote (42259)	2/7/2001 8:16:54 PM
From: Chris	Respond to of 42787

EXACTLY!!!!!!!!!!!!

To: Paul Shread who wrote (42259)	2/8/2001 7:42:48 AM
From: JRI	Read Replies (1) \| Respond to of 42787

If I'm reading your charts right, it looks like we re-enter the former channel if we go above 2645 (approx.) on the Naz, and 2460 (approx.) on the NDX....is that correct? I am assuming, then, you are looking for those levels to provide resistance here to any up move.... Given the breakdown of the wedge, wouldn't one expect a failure then (perhaps at these resistance levels), and further downside to...perhaps a 2nd fibo level (yesterday we did 50%)...in the next couple days, 61.8%? What level would that be? To me, that makes sense, for then it would likely trigger a CLASS ONE or TWO buy signal on Naz, and would have given Dow a couple days to rest...(and maybe they can pull together for a while then).. Thanks in advance for any answers...