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

To: StockOperator who wrote (37107)	6/18/2002 8:28:53 AM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Good morning, So far a one day move. It will be interesting to see what happens the rest of the week. Remember my post from yesterday many of the semis are in "do or die" positions this week. Which means we have to be careful not to be taken out by any "headfake" here. Always good to question the obvious. A good way to place yesterday's move into context is to look at companies on a multiple time frames. INTC is a good example. Check out the monthly chart and you will see a major break down this month. So unless this stock just takes off like a rocket and repairs most of the damage done already (something I seriously doubt), yesterday's move is nothing more than a counter rally within an overall down trend. Good old fashion backing and filling. There's is however some interesting charts of companies worth noting. Believe it or not stocks that look like their attempting to break out. The first would be LEH, which I believe came out with good numbers this morning. Anyway, I mentioned this stock the other day along with FNM saying that both of these companies should be watched to see which way their multi-month consoldiation patterns break. The stock is worth watching here to see how it handles its upper resistance line. EBAY up $4.0 yesterday. Same thing applies. No breakout yet but worth watching how they handle these areas. INTU which I have not mentioned for a couple of weeks. Also is attempting some kind of breakout. I mention these stocks because they are all part of the maze of the market. I want to follow as many different pieces of this puzzle as possible always looking for signs that would cause me to reevaluate my position. Always leery, despite the fact that my work tells me that theres more pressure coming. Keeping the scales balanced. Good trading SO