Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: SirRealist who wrote (90299)	7/2/2002 4:03:09 PM
From: vampire	Respond to of 99280

I agree - enuf for a short term bottom at least imo

To: SirRealist who wrote (90299)	7/2/2002 4:54:03 PM
From: SirRealist	Read Replies (1) \| Respond to of 99280

This: equis.com shows .ixic at 1357.09 for the 90 low. We broke that and closed barely above it. This: table.finance.yahoo.com shows 1343.87 as the intraday low. We didn't break it. But 1419.12 is the closing low here and we've closed below it 2 days in a row. We've yet to approach the DJIA's lows, by any measure, though today was the lowest close since the third trading day of Oct. The DOW, however, shows the clearest, symettrical head and shoulders pattern: bigcharts.marketwatch.com with 8750-8800 looking like the next stop... at least. There is, of course, a very real danger of fear collapsing the indexes between now and next Tuesday. I think 1325-1330 will hold up in NASDy. I'd estimate the odds are 60% in favor of a bounce between today's close and there. But another 30% is of a decline to 1250-1260 TOMORROW, with the standard retest occurring by next Tuesday, just before big name tech stocks start reporting. If 1240 cracks, look for 1000-1060.... which has a 10% chance of happening. And again, the DJIA will suffer worst in the latter two scenarios, so ya better hope the first holds.