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

To: Chris who wrote (31686)	3/7/2002 10:23:31 AM
From: TechTrader42	Read Replies (2) \| Respond to of 52237

There's very strong resistance around the 200, near 64. That's near an MM level of resistance, too. Someone mentioned CAT as a buy yesterday, too. I wasn't quite sure, but the emoticon may have indicated he was kidding. Take a look at MACD. The thing's overbought. That's not to say it couldn't head up to around 61 and then plummet, but who would buy it now? Does the reward outweigh the risk? There's an eagerness to jump on the bandwagon, it seems. And yet the high level of complacency indicates the market's in dangerous waters. There are a lot of uncertainties out there, too. We all know what they are. Have people forgotten about them? By the way, I'm holding no short positions right now -- not one. So short positions aren't behind the skepticism. It's logic (heh-heh) -- a purely technical standpoint, based, among other things, on questionable charts and overbought complacency indicators. The point is that opposing viewpoints aren't based on emotions, necessarily, but an emphasis on different technical or fundamental factors. It's too easy to see all opposing views as blindly emotional.