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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 (2712)	3/13/2001 10:13:04 AM
From: JRI	Read Replies (2) \| Respond to of 52237

Velo has been en fuego lately...I suppose 2000 in the next level to watch...but I'm watching the Dow here....i can't see the Naz running away without Dow firming significantly.. ..market still has this problem: When the afternoon rolls around, folks get nervous holding overnight....so built-in selling pressure after 3 PM.... Now, you've got margin calls to boot... This is tough for me, because normally, I'd be in here buying the Fed rally (as well, a lot of posters I follow seeing a buying op/turn date/etc. here)...but that Dow break yesterday was ugly, and I gotta believe more is to come....if so, that will be a drag on Naz.. If I buy, I'm waiting until I see a big, big spike in fear indices today....it would be nice if Dow could break 10k too ...

To: Paul Shread who wrote (2712)	3/13/2001 10:58:43 AM
From: velociraptor_	Read Replies (1) \| Respond to of 52237

Paul...my guess is that we are in wave 2 of 3 of 3 down since we broke that channel. The Nasdaq has been the clearest of the 3 indexes to read in terms of elliot wave and I am using it as a guide for the other indexes as well. If my assumption is correct, then once this is done, we should be going into 3 of 3 of 3 down which should really slam the markets. It ecrtainly will be interesting to see what happens. Nevertheless...the markets are having a hard time rallying anywhere after 3 days of a heavy decline.