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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 (29040)	2/1/2002 11:07:11 AM
From: Ibexx	Read Replies (1) \| Respond to of 52237

02/01 10:01U.S. Purchasers' Manufacturing Index Rose to 49.9 in January By Carlos Torres Washington, Feb. 1 (Bloomberg) -- U.S. manufacturing improved in January for the third straight month, a sign factories may soon recover from an 18-month slump. The manufacturing index of the Institute for Supply Management, formerly known as National Association of Purchasing Management, rose to 49.9 last month from 48.1 in December. The index has been rising since sinking in October to 39.5, the lowest since February 1991. Readings of less than 50 signal contraction, and the index hasn't been higher than that level since July 2000. Improving sales forecasts at manufacturers such as Texas Instruments Inc. are a sign the economy may be rebounding from its first recession in a decade. Monaco Coach Corp. is among producers whose order backlogs are rising as demand picks up. ``Businesses and households are all starting to feel comfortable about the future, and that is leading to gains in orders and production,'' said Joel Naroff, president of Naroff Economic Advisors in Holland, Pennsylvania, before the report. Economists had expected a factory index of 50, based on the median of 54 forecasts in a Bloomberg News survey. Manufacturing jobs continue to fall as producers try to trim costs. Factories cut another 89,000 workers last month bringing total manufacturing job losses to more than 1.6 million since August 2000, data from the Labor Department showed today. Ibexx

To: Paul Shread who wrote (29040)	2/1/2002 11:08:26 AM
From: ajtj99	Read Replies (2) \| Respond to of 52237

The 60-minute charts were pretty overbought yesterday. I looked back at some sticks similar to the reversal stick we saw Wednesday, and it seems after the 2nd day, there is a often a period of consolidation. A red candle would be perfectly normal today, and a nice white one may come on Monday as shorts get burned and stops get blown at SPX 1132. I think after that, gains could be muted with a couple of doji's making higher highs, making SPX 1142 a good stopping point. As for the NDX 1590 and 1607 seem possible targets for many of the same reasons. The AJC signal may not work this time, but was it the real deal yesterday? I think she has to be bullish for it to work, and most said she just reiterated her target, but did not say anything about the near term market prospects. I think the AJC indicator needs to have an RSI to get a better read on it.