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

To: Stockdoctor who wrote (36651)	6/3/2002 9:51:43 AM
From: Paul Shread	Respond to of 52237

Here's a summary from Normjg on Marketswing: Donald will not go long, though he expects a bounce and will take the opportunity to re-position shorts. He thinks the Dollar looks sick, but could not pull up charts today. Donald has no targets for the bounce...only the Gurus do...but I think he said he may start legging into shorts on Tuesday based on SPX hitting certain targets that he is watching. In my opinion, and understand that I am not Nikko, Donald believes that the market is heading South. He does not expect a Class 1 Sell Signal before the market turns down after the bounce. I asked Donald if a 100 point drop in the NDX over 3-days would trigger a Class 1 Buy. He said that he did not know. I asked Donald about the Transportation Index, and suggested that if we were heading up within the next few months that the Trannies should be forming some kind of bottom. He agreed that, based on Dow Theory, we should be looking for that, but again could not pull up charts. Basically, Donald believes that there is more downside ahead before a sustainable rally will take place. He will wait for all of his indicators to line up before going long. I think that he said that if a bottom is not reached late June/early July, his next window was September. I suggested that it could be late July/early August, and he was open to that based on the 9-month cycle. So no signals. Just a discussion of market direction. marketswing.com