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

To: waverider who wrote (21935)	10/17/2001 11:06:56 PM
From: Susan G	Read Replies (1) \| Respond to of 52237

It was the the hanging man and paper umbrella candles... overbought condition, the daily chart on the nasdaq and on the short I was holding...VRSN. If a strong stock shows signs of cracking it's often an early signal of a move down. And Island reversals often get filled. I had been saying the nasdaq was about to roll over to the traders I trade with for a week now. They thought I was nuts <g> Don helped me confirm my gut feelings. Believe me I missed some longs though because of my bearish attitude, I had no trust in the move and missed some good ones. And watching certain stocks start to fade after being so overextended, like BRCD. What it looked like to me the past few days was every rally was just nervous shorts covering. And they were instantly reshorted, so that some of those rallies were only short squeezes - no real sustained buying. That sometimes is a hint of a top too... I was ready to cover at any time though, Fred Langford and I were discussing that negated signal last night - as I was early with my short and it took patience, and yesterday I was so bearish I figured my gut feel was totally wrong, because the market would not stop! I was ready to give up and turn bullish and I am my own best contrarian indicator. It just felt like such a ramp job/set up for longs all this last week or so...and the way all the talking heads got so bullish it made me bearish as hell <g> Some of these stocks moved up 50% in weeks and there was only bad news coming out...estimates getting cut while valuations are doubling?? Everything I've learned I give thanks to all the great SI posters for...thanks to you all.