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

To: StockOperator who wrote (30467)	2/21/2002 8:30:10 AM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Yesterdays rally on the Dow was impressive. It completely took out the previous day's high and based on the close for many of the stocks I follow, I would think that prices will try to extend those gains today. This is how I'm playing it. Most of those stocks that I pointed out over the past week or so have hit lower lows this week. To include the utilities which broke their lows yesterday but as of yet not on a closing basis. I will be watching the trading action on a few stocks more so than the rest. The DOW, if it runs from here is going to have some serious resistance at the 10,300. Resistance that I believe should keep prices in check for the next six weeks. So any serious push through that level prior to that would get my attention. If that scenario even plays out. On the other hand stocks like QCOM and AOL have no wiggle room on their charts at all. A big push in prices right here would cause me to seriously change my view on things. Let me also say that I really doubt that their prices, based on their charts, will be able to mount any kind of breakout for at least the remainder of this month. ONCE AGAIN IF things continue to run. If not these prices will continue to be under huge pressure. I will be watching AMAT to see whether or not it can take out 48. That's where all the pressure lies. Let me say that I'm from Missouri on this one. With some stocks hitting new lows on a daily basis and others trying to run, I will just keep watching the resistance on those charts to see how things play out. Profitable trading.