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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: keithcray who wrote (69236)	4/1/2001 4:49:36 PM
From: westpacific	Read Replies (2) \| Respond to of 122087

Well - this is how I see it. And of course only one opinion. First the TRIN gave off an indicator on March 22nd. This is the first sign of a reversal which we have seen happening somewhat in the past week. However in 1987 when the TRIN indicator went off the DOW dropped 22% in one day before the market turned. SOOOO I would hold no longs overnight for the next week to two weeks. We could have some nasty pre-announcements for the next earnings quarter. IBM, DELL of MSFT could be the factor to cause a major down day. I would cover certian shorts that day and do some buying on the long side. Then we do have the potential for a small rally. Say NAS to 2390 or so and the DOW to 11300. Then get short again - this next leg down should take us to NAS 1400 with a potential test to 900. The DOW will take the most pain and I see that doing 9000 again, if it breaks then we could set up for the big selloff to begin below that. It needs to get back to its proper channel at 5800 to 6000 for sure until a total bottom is in the market IMO. As for the S&P I see 830 or so for sure, and then if it breaks it could go all the way to the mid 500s, I would like to see 560. It is all on a stock by stock basis. But for the long term health of this country this is what we need to see. The excesses need to be wrung out - it will be painful for many. This is all based on technicals - so the emotions of a market are the BIG UNKNOWN. I mean how the hell did we ever get to 5100 in the first place. MANIAs and all. Disclaimer - IMHO, always do your own research and trust no one. You are all responsible for your place in life - that is what made America great! Successful Trading West