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

To: Paul Shread who wrote (66)	2/12/2001 10:10:17 AM
From: JRI	Read Replies (1) \| Respond to of 52237

I'm in now....AMCC, BRCM, NTAP, JNPR...think chip strength will overcome bad storage news...Ruettgers (EMC) and Tom Siebel speaking today at tech conference..think they will paint "no problem" situation...we'll see.....Dow obviously favored today... Ready to bail if we break 2400 in any big way....

To: Paul Shread who wrote (66)	2/12/2001 10:51:22 AM
From: Chris	Respond to of 52237

naz comp has hit the big downward trendline that we broke out of. let me see if i can find a chart of it. in other words, possibility of a HIGHER LOW big picture.

To: Paul Shread who wrote (66)	2/12/2001 10:53:50 AM
From: Chris	Read Replies (4) \| Respond to of 52237

chart not done by me. stockcharts.com dark blue line for naz.

To: Paul Shread who wrote (66)	2/12/2001 11:16:20 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 52237

Paul, Actually I posted a link to the wrong chart. The volume picture on QQQ is much more clear; on COMPX it is admittedly not. Now admittedly its a market that only trades billions on a daily basis, but perhaps it matters a little, since it its widely used as a hedging vehicle. Volume on futures is harder to determine. The picture is murkier, however tick volume on ND H1 does in fact decline. Regarding where to position lines, the positioning is not arbitrary at all, despite the outward appearance. All I can say is given 100, 1000 or 10000 different charts, I would draw them in an identical fashion. A hint, outside bars rarely factor in the identification of swing points. And frankly I attach little weight to price action that happens in the first 10-30 minutes of any major fed action, particularily in the futures market that I trade, since stops on either side are actively run through and very little "thought" goes into those wild gyrations. The bottom line on volume - its not as clear as a picture as you portray it - and two major hedging vehicles show the classic declining volume trend that we'd look for in a wedge scenario. Perhaps for murkieness reasons alone, it probably makes sense to be open to alternative interpretations. Having said that, I don't use channels at all, so perhaps I'm close minded. But I guess we all work with what works for us. regards Mike