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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (9496)	2/9/2001 1:13:22 PM
From: Poet	Read Replies (1) \| Respond to of 10876

Argh, that's a depressing thought for longs, JXM. Thank you for posting it.

To: Jorj X Mckie who wrote (9496)	2/11/2001 12:37:34 PM
From: hobo	Read Replies (1) \| Respond to of 10876

Hi Jorj, Being that you seem to be knowledgeable of the black magic, would you please enlighten me a bit in the black art of the following chart. I have been reading a bit about the dark side but i need some help in the interpretation.... stockcharts.com according to the above chart, which shows an "alert" in the form of a "descending triple bottom", which in turn, the black art defines such as: Descending Triple Bottom Breakdown X XO XOX XOXO XOXOX O OXO OXO double bottom --> O O O <-- descending triple top breakdown A double bottom followed by another double bottom, or three bottoms, each lower than the previous is recognized as an descending triple bottom breakdown. The idea is that supply is continuing to outstrip demand on an ongoing basis. ___________________ looking at the chart above, my questions then are: 1. what would you say is the "target" of this breakdown ? (my assumption is 54) 2. if supply has over ridden demand already for the third time in a relatively short term, at what point do we run out of sellers, (if at all). in other words does the 54 target is likely as it seems there to be a "support" --assuming i am reading this correctly. 3. if we have a re-bound, and drawing a continuation of "bearish resistance" line above, the maximum possible rebound target would be 62, which agrees with the "Maxpain" target for February options expiration. i am trying to learn how to read the black magic charts, based on very light reading of the dark side. please feel free to add your comments. thanks.