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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 (6663)	5/1/2001 2:16:45 PM
From: dennis michael patterson	Respond to of 52237

ggggggggggg

To: Paul Shread who wrote (6663)	5/1/2001 2:47:02 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 52237

Todd O nails it with this: page 1 2 3 4 >> 7 Basing ... or Topping? 5/01/01 2:41 PM ET The trillion-dollar question that I'm currently weighing is whether this action is healthy and constructive basing or if we're in a short-term topping process. The price action would seem to support the former while the technical backdrop (resistance at DJIA 11,000 and Comp 2300) implies the latter. Pretty sneaky, sis. My gut continues to be that we ultimately trade lower, but absent news, the path of least resistance seems to be higher. How do you play it? Again, the answer to that question is a function of your style. In my seat, I'm afforded the oportunity to (cutely) scoop (read:buy) stocks to kick them back out (hopefully) higher -- even if I have a negative bias. That's how I've learned to "trade around" a thesis ... and fight the fight. I understand most of you don't have that capability, but I can only relay to you what I'm doing -- not tell you what you should be doing. Tape giving it a go on the upside, but the semis not participating ... so keep an eye on this group for discernible signs of traction. My options dudes are telling me that they're seeing some panicked covering here ... just so you know. I'm gonna stick to my guns, and look to add further Boo appendages (conviction levels) at higher prices ... and it feels like I'll have that oportunity. Happy trading. R.P. No positions.