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To: LLCF who wrote (150493)	2/11/2002 3:24:22 PM
From: StockOperator	Read Replies (1) \| Respond to of 436258

"so you see sideways in the indicies"??? According to my work I don't think the indicies have the luxury of just trading sideways. I think the major avgs have to respond here to this downward pressure by beginning to move higher or the overall selling pressure will force prices lower. Remember my time frame for this resolution is the end of the 1st qtr.. A positive breakout would carry prices towards DOW 10,300 (roughly). Likewise, a failure to respond would carry prices back towards 9/11 levels and perhaps beyond. Even stocks like QCOM, which I believe is running into a brick wall as we speak, has significant pressure in front of it. If Qcom continues to run hard over the next couple of days it may be signaling that it trying to break out here. Ditto for AOL. The chart structure for individual stocks still looks for ugly. Not the kinds of patterns that you see when prices are about to take out intermediate highs. So I remain suspect of this late rally. Time will tell.