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

To: TechTrader42 who wrote (14608)	8/10/2001 3:23:14 PM
From: bruceleroy1_-	Respond to of 52237

I agree with you that unless the fundamental picture turns quickly, any "rally" would be limited. Personally, I would short any rally into the upcoming fed meeting. The bigger the rate cut the better shorting opportunity it would present. If the Fed cut rates by 75 basis that would be bullish for the market right? (ggg)

To: TechTrader42 who wrote (14608)	8/10/2001 3:26:32 PM
From: jeffsthoughts	Read Replies (3) \| Respond to of 52237

Funny thing about the e-wavers. They were all apparently following Prechter's bullish call. I have some eWave software, and only one of the gazillion possible counts that it generated (one of the lowest rating ones at that)matched Prechter's call. The majority of the rest all said new lows. I think a lot of the eWavers simply parrot Prechter since he is the supposed expert. I suspect he was biased for whatever reason, but such is the problem with E-Wave.

To: TechTrader42 who wrote (14608)	8/10/2001 4:12:56 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 52237

Brook: What is fueling this "rally?" Why the short covering is the driving force. The shorts are like brakes. They put the brakes on any decline and give a bounce and the longs find a false bottom in their covering. Your point about the VIX is on target. There will be no mileage in this rally IMO. Longs are in already with that kind of VIX reading (22.81!!!) and shorts covering today are looking for the rally to sell into again. Bottom line: A lower low today in the Nasdaq in this downtrend. Bears are in control here despite any bounce.