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

To: donald sew who wrote (20012)	9/26/2001 8:09:48 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 52237

Hi Don very nice call off that short term bottom last week...it's been very interesting ala P&F that we "finally" got a reversal up on these very oversold charts on the major indexs... actually it now sets us up for another fall shortly...we needed that up move to begin to base build here over the next 30-60 days... i can say that both the SOX and BTK have NOT reversed up yet and are in protracted downtrends still...very negative implications going forward the VIX gave a double bottom sell signal yesterday as it broke 40...so if it now rallies back up as we cascade down..this will also set up an inverse chart pattern for another meaningful rally coming soon despite the outlook here... i had some 1/3 upside targets for all the indexs off what i call LOW POLES....I'm not even sure we'll get up that far here...a 50% retrace up off the total move is not in the cards right now...that in fact would be a LOW POLE WARNING, and actually bullish for the markets... instead...we'll back and fill here trying to hold the recent lows...i'd like to see some sideways movement for a while..sellers are exhausted, and the formation of this important major bottom is about to begin... while stocks are on Fire Sale here...they could get a lot cheaper in the next phase of this base building process... regards OJ