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

To: American Spirit who wrote (6885)	5/3/2001 3:00:37 AM
From: Berney	Respond to of 52237

It really is a scary chart. If that higher high isn't taken out, it may look scary to a vastly greater degree. Look, from my perspective this is a classical bear blow-off. Let's view it from a FA perspective Costco warns, GM's sales down dramatically, and the techs hoping for a fourth quarter rebound. From a TA perspective, we got the stochastic readings at a daily top and a Fib retracement is due. The only question to me is to what degree? Let's look at a stock referenced today: RFMD. It is one of the NDX stocks and always has been a NOK substitute. The company advises folks in their conference call that earnings will grow 20% sequentially. The stock booms. They also advise folks that their earnings will go from a negative .04 eps to a negative .05 to .06 eps for next quarter. Let's see, we are going to lose for every unit sold, but we are going to make it up on volume; and, oh yes, we predict we may achieve profitability in the future. Fun to watch! Berney