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

To: StockOperator who wrote (30568)	2/22/2002 12:26:04 AM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Every day we get a bigger chunk of the picture revealed to us. And as I said in a previous post there won't be too many safe havens for investors to hide. The utilities finally closed below last months low. And by the looks of thing will push even lower the remainder of the week; The transports, which CNBC has loved to harp on this week, appear to be topping out. IMO, we will be seeing more of a breakdown in the month of March; The Nikkei, which has had an impressive run of late has still not broken out. I remain suspect of this index. But yet need to see the close next week to have a strong opinion on it. Regarding tech believe it or not we could be early in this move downward. Some of the chips are just beginning to roll over; This week's upgrade in ORCL could give the analyst heartburn. The stock is sitting on a cliff. Watch the action over the next week or so. A breakdown from here could catch the stock in a nasty spiral; I would bet anyone a cup of joe that WCOM is going down the rest of this week. The pressure is huge as well as for stocks like QCOM and AOL. The bottom line is that stocks are going to be under significant pressure for at least the next five weeks. I'm sure at some point they will try to make an attempt at a rally but based on everything that I see it should be feeble at best. Besides, I think it is only smart to heed the markets warning with stocks like CIEN that says a breakthrough of those Sept lows is always a possibility. With a retest almost a certainty. Yet I think it's smart not to get to far ahead of prices. Anything can and usually does happen on WS, so I will trade accordingly. Staying flexible, SO