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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 (301)	2/16/2001 10:36:52 AM
From: Terry Whitman	Read Replies (1) \| Respond to of 52237

SPX has broken support at 1305. Next support level is 1275.

To: Paul Shread who wrote (301)	2/16/2001 10:55:38 AM
From: JRI	Read Replies (1) \| Respond to of 52237

I guess Roque sees Nortel comments as a proxy...but the big difference here, Paul, is that Nortel is saying things are going to be weak ALL YEAR (the 1st major company to do so).........Dell, HwP refused to comment on the "2nd half strength" argument.....until now, companies were united in saying, "1st half no good, 2nd half, back to business as usual" My theory is: that 2300-2400 line....was a function of the belief that the tech economy will start recovering by 2nd half..once it becomes clear that Spring 2002 (and not 2nd half) will be the initial profit recovery (y-o-y), then the market must go lower....Is Nortel the trigger to end the "2nd half will be better belief?" But throwing this all out......we are only 50 pts. away from Wednesday's intraday lows on the COMPX....Paul, it gonna be very, very difficult to hold it...we are simply too close here- not enough margin for error (2% only)...and there is no buying catalyst coming to save us the next few trading days... Below 2380...a lot of technical things break down (no?)...and the momentum will be self-fulfiling... The next 2-3 days will tell the tale...if we survive it, maybe we'll blow off any further concerns about lack of profits for 2nd half this year in the coming weeks....but I doubt it...(final edit: Dow IS holding up well...that may keep a lid on things, dunno)