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

To: StockOperator who wrote (37103)	6/17/2002 4:17:32 PM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Minutes to the close and its almost sure to print a solid close across the board. Of course one day does not make the week. The smart money has been very good at sucking in money from the sidelines. Besides with triple witching and the losses seen thus far the scales need a little balancing. But yet there are still clues out there that the course (bearish) that the market has set is still playing itself out. Look at QCOM which I have talked about this morning. Unlike many of the stocks that are in the green today that have already seen their prices deflated over the past weeks, QCOM is not participating today. The multi-week consolidation is coming to an end and has already begun giving us clues as to which way it will break. As I said, last weeks close was the kisser. A significant move higher from here would push QCOM into a potentially bullish pattern, which goes completely contrary to where the long term pattern dictates. Not surprising to me to see the stock in the red today. Look at ADBE and RFMD, continuing their drive into lower prices. Make no mistake about it. There are still stocks out there like CSCO that are going to have to push lower before this qtr. is through at least according to my work. My comments above re QCOM equally apply to CSCO which says that any significant push higher will open up a contradiction in timeframes. But there's plenty of time left in the quarter. Much can and usually does happen on WS. Good trading. SO