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

To: Michael Watkins who wrote (90)	2/12/2001 2:27:54 PM
From: AllansAlias	Read Replies (2) \| Respond to of 52237

Yes Michael, I have said the same on this thread. I rarely draw lines other than just highs and lows, but recently there was so much talk about the line in question, the one using the closes, that i took a look and discovered that most everybody had the numbers wrong. This is why I drew this rare (for me) line. As for the Fed thing, I have no idea what that's about. Where did that come up? On second thought, don't bother answering that -- I don't care. -g

To: Michael Watkins who wrote (90)	2/12/2001 3:11:35 PM
From: Paul Shread	Read Replies (3) \| Respond to of 52237

McTeer made a comment a day or two after the Fed cut for the first time that they were "watching the Nasdaq," an unusually specific and targeted comment even from the Lonesome Dove himself. Since that was the second time the Fed cut after that trendline was pierced, I'm not so sure Greenspan doesn't watch it, particularly given that he believes that technology capital spending and productivity gains are linked. It's just speculation on my part, and I didn't fully believe it myself until the McTeer speech. Trendline theory is that the line with the most touches is the main trendline, since that is the strongest line. They are sometimes broken for a few days, and then recovered; more than that and they're probably just plain broken. I wouldn't crow too much about being out of tech last year; you're hardly alone on that front, and you wouldn't be much of a trader if you weren't. ;-)