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

To: Terry Whitman who wrote (5272)	4/6/2001 11:04:38 PM
From: Paul Shread	Read Replies (2) \| Respond to of 52237

I agree it looks ugly, Terry, BWDIK; a lot of people see hopeful signs here. Volume was lower today than yesterday, FWIW. I didn't buy this rally; as I said earlier, I'm waiting for the Nasdaq to break its two-month downtrend first. Since that downtrend line is dropping at about 23 points a day by my calculation, every day it takes to break that line is another 1%+ of upside for patient traders. ;-) I agree that we're more likely than not to bottom this month, although that could happen a lot lower than we are now. The problem is the economy appears to be worsening rapidly, and the Fed seems to be suffering from a collective case of rectal-cranial inversion. Old econ earnings don't seem too bad yet, but what is going on in tech is just hideous. I have no idea when tech is going to turn around, but tech is 20% or more of GDP, so it's not likely to stay isolated. JMHO... And one final thought: only one bear market in history never broke its downtrend at some point: 1929-1932. Per my observation, the current Nasdaq bear has never broken its main downtrend line: cache.wsrn.com