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

To: Chris who wrote (30437)	2/19/2002 11:34:17 PM
From: Susan G	Respond to of 52237

I agree. And when you look back at previous downturns, we stayed oversold for much longer... Ed Downs thinks the nas will hit 1700 by the end of the week. And he tends to be bullish!

To: Chris who wrote (30437)	2/19/2002 11:44:13 PM
From: Susan G	Respond to of 52237

Another vote for an oversold bounce from a TA newsletter... The technicals indicators at this point have gotten pretty oversold and are ripe for a rally, along with the TRIN and put/call ratios being as high as they are, we’re getting very near to a significant oversold level to create a reversal. A review of my personal board today showed some very severe losses with EBay down 5.50, Brocade 4.40, Genesis 4.50, NVidia 3.80, QLogic 3.30 and Emulex 4.10. Most of the others were down a point or more . The Nasdaq market still has declining tops lines and is in a very distinct declining channel. The bottom of that channel measures right now about 1350, which was also my minimum intermediate downside target. So I do expect that if we get down tomorrow somewhere in that 1350-60 range , we could possibly stage a strong rally. The Nasdaq has now dropped 130 points or about 9% in just 2+ trading days from Thursday afternoon’s high to today’s close. You usually get those kind of declines at the tail end of a decline. So let’s look for a potential rally tomorrow at some point, perhaps after we go a bit lower.