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

To: Paul Shread who wrote (28206)	1/23/2002 3:45:28 PM
From: bruceleroy1_-	Respond to of 52237

John Murphy on CNBC thinks Nasdaq 100 and Composite are leading the market down and thinks Dow will follow and eventually break under 9700

To: Paul Shread who wrote (28206)	1/23/2002 4:17:44 PM
From: Michael Watkins	Read Replies (3) \| Respond to of 52237

I don't disagree with you on caution... although I kinda like IBM in a way. IBM - 2B bottom on 15 min chart passes, so far. Up is now more likely, but not assured, tomorrow. It climbed back up after a big push down. We shall see. trendvue.com MSFT - closed off lows, little less convincing. No real plunge and recover test. GE - ditto. Agreed that market is hanging on the edge. If general market makes a new low then I guess we'll be looking to buy at lower levels. I did buy some ETFs (SPX based and IT based) on the morning pull back. Perhaps I'll be trapped and gapped, but the risk is reasonable enough given where I bought them. It seems that a lot of bad news is being digested by the market right now, that on top of the already lengthy swing down - can't discount a surprise move up.