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

To: Chris who wrote (8593)	6/5/2001 6:28:07 PM
From: donald sew	Read Replies (2) \| Respond to of 52237

JUN 5 INDEX UPDATE ------------------------ Short-term technical indicators: DOW - CLASS 2 SELL SPX - overbought region OEX - overbought region NAZ - overbought region NDX - overbought region USD - midrange VIX - CLASS 1 BUY(inverse to market) Per my short-term technicals, the overall market in in the short-term overbought region. If the market continues up the SPX/OEX/NAZ/NDX would become CLASS 2's tomorrow and CLASS 1's on THUR, and the DOW would become a CLASS 1 tomorrow. So its implying that a short-term top should arrive WED/THUR. The VIX is giving a firm CLASS 1 BUY signal(sell for the indices), so that is a hint that tomorrow has a chance of being a SHORT-TERM TOP. For the forthcoming short-term pullback, I am not expecting a large pullback since we are approaching expiration week(8 days away). So Im just expecting that the market will trade within the normal MAX-PAIN BUFFER(+/-20 OEX points, +/-5 QQQ points) However, as mentioned previously, if some of the major indicies cannot set a HIGHER HIGH during this immediate short-term upswing, such would be in line with the formation of the RIGHT SHOULDER of a HEAD & SHOULDER. So a time of CAUTION could be right after JUN's option expiration(week of JUNE 18). In my personal mutual fund account I took some profit by closing a few UOPIX position, where Im now about 85% cash and unhedged. I also closed the DJX JUN 110 CALLs at 1.95 for a 50% gain. Still holding onto my small cap and biotech which are a little profitable. Most likely I will not go short until the middle/end of next week in light of the possibility that the week after expiration being significantly negative(possible HEAD & SHOULDER).

To: Chris who wrote (8593)	6/5/2001 6:33:29 PM
From: TechTrader42	Read Replies (2) \| Respond to of 52237

I honestly don't know how meaningful such oscillators have been during the bear market. They've oscillated -- that much is true, but beyond that, I don't know. It's all depended on the direction of the market. With the DJIA and the Naz, we're no doubt looking at the same charts. (You posted a link some good breadthalyzer ones recently, and to my mind, those are the best indicators.) I won't add my two cents worth of useless predictions, cuz I'll no doubt be wrong. Oh, the moon has often been a good indicator during the bear market, too.

To: Chris who wrote (8593)	6/6/2001 4:44:12 AM
From: Chris	Read Replies (2) \| Respond to of 52237

fyi: because im doing all sorts of positions (long, short, etc), i want to clarify that if spx and ndx does not break above the nov 00 trendlines, i will be MORE BEARISH. however, if the individual stock chart looks bullish, i do take trades in light of the market bearishness (albeit fewer long positions which means more cash position) for shorting, i only short index stocks since shorting is more risky on individual stocks. one more hint: short the weak stocks, not the strong ones. people are crazy for shorting msft.