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

To: Chris who wrote (33689)	4/3/2002 11:04:46 AM
From: TechTrader42	Respond to of 52237

QQQ was in trouble when it moved yesterday into the shadow of Monday's candle, and then fell below Monday's low. The next target might be 33.75 -- somewhere around there. If that failed, then 33.09. But as I've said, it's all guessing. My foolish sentiment readings are getting oversold, so there might be some buy signals in the short term before long. Yes, that's right, I said it: Buy signals. I don't think it'll be today, but it'll depend on the severity of the move down. The downtrend could end with a panic. And so on and so forth. These remarks aren't to be considered ex cathedra. Actually, I seemed to read that you were seeing downtrends in the indicators, so I was surprised that you bought during Monday's rally. There was strong resistance for QQQ at the 50 SMA, and Larry's upper trendline was presenting a wall of resistance. My sentiment indicators climbed back to the upper extreme. In hindsight, it seems like the classic sucker rally, to pull in the last of the sheep on the mountainside, but there wasn't any good way of knowing that for sure on Monday. It's bloody tough, it is.