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

To: Paul Shread who wrote (33967)	4/9/2002 5:11:19 PM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Paul I don't know exactly what you mean by "black cloud" (I'm not a candle guy) but I'm going to run with it anyway and assume that it's negative (it sure sounds negative <g>) But you're right just look at the damage. Stocks like AOL try to appear strong going into the green on the open only to give up those gains at the close. It's the action of the last two days and more importantly the action that pushed us falsely into the 10,600 area, that keeps most traders in this crazy game. The most difficult thing distinguishing between real buying versus distribution. But it has been the long term trends that have kept me bearish despite how foolish or wrong my calls may have appeared during that March rally. Profitable trading. SO

To: Paul Shread who wrote (33967)	4/9/2002 5:23:16 PM
From: 1podstock	Read Replies (1) \| Respond to of 52237

Paul, we've had days of black marubozos on Nasdaq, a highly reliable bearish candlestick that implies downward action for the next few days. However, there's always been mysterious buying of huge lots of S&P contracts the next day or thereafter, and away we go as Nasdaq soars higher With the action of Greenie and the PPT, it's gonna be a lot harder to MANUFACTURE the rallies, b/c shorts have already been blown out back in Oct-Dec 2001. There are still shorts out there, but they've got more conviction (gee, whatever happened to the strong 1st half recovery?) and/or are not shorting as heavily, thus leaving more leeway for these "rallies" that seem to come out of nowhere. Like yesterday, for example, when IBM warned but Nasdaq closed at high of days.