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

To: SpecialK who wrote (37741)	7/8/2002 10:10:19 PM
From: StockOperator	Read Replies (1) \| Respond to of 52237

SK, The difficult thing about reading the longest of trends is we're talking about large chunks of time. Which means a one month move is always possible or more difficult to predict. Based on the charts of QCOM, CSCO and others I don't see much upside in their charts unless these stocks are poised to make a more significant move to the upside (breakout). A breakout that would go contrary to the longest of trends for a whole bunch of stocks. That is why I have been saying "pressure all year" for some stocks. Some of these charts are easier to read than others, but if you get a whole group of tech pushing lower, I would have to assume that that is what the market has in mind for the companies with the trends that are more difficult to read. That is why I think it is important to keep pointing out the stocks that keep breaking into historical lows or break major support. There is a message in everything the market does. Seeing stocks like CIEN trading at historical lows or RETK breaking major support to do likewise are all possible clues for what the market may have in store for stocks in general (look at SUNW). In a nutshell this market can run but it can't hide. Any move higher only delays the inevitable pressure bearing down on prices. Keep an eye on CSCO this month. CSCO could be the catalyst for the next leg down, remember, they had a series of miraculous qtrs., of beating the street by a penny or two. SO