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

To: Caxton Rhodes who wrote (37846)	7/11/2002 12:38:29 PM
From: StockOperator	Read Replies (1) \| Respond to of 52237

Caxton, I see the stock is up +$.90 today. I know the first thought when seeing strength on a day where the DOW is heading towards another (potentially) triple digit loss is maybe someone knows something that we don't. But think about the kind of environment I've been talking about. Without even looking at the chart and assuming my analysis is correct, my initial thought is why would xlnx do any different than any other tech stock (or semi)? After looking at the chart my first observation about the price is that it's a classic fit for a point that I made in my post from last night. That the smart money has managed to give the "appearance" of accumulation when in fact it is nothing more than backing and filling and distribution of this company's stock. It is also a classic fit of another point I made where the smart money closes the company on bullish footing only to take it out in the subsequent time period. A quick look at the weekly chart will prove my point. Last week gave us a more solid close only to completely breakdown this week. A pattern I have been seeing over and over again. Nothing but headfakes. So even with the stock trading up today, in the context of where we were last week it is definitely not positive. Just one more market clue that things are continuing to favor this negative scenario. Hope that helped.