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To: AllansAlias who wrote (48731)8/2/2002 1:04:26 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 209892
 
Speaking of big rounded tops (funny how that imagery evokes thoughts of a circus tent), check out the 5 day chart on the SPX...we are gonna put in one incredibly nasty inverted hammer on that thing (and the Dow, the NDX, the BKX and the SOXX) if prices hold anywhere around here:

finance.yahoo.com
stockcharts.com[w,a]waclyyay[dd][pb50!b200!f][vc60][iUb14!Lf]&pref=G



To: AllansAlias who wrote (48731)8/2/2002 2:23:13 PM
From: Perspective  Read Replies (1) | Respond to of 209892
 
Reaper, AA, really looks like an ED on the 10 year chart. Don't know if you'll like the shape AA, but the last three marginal highs were made on three wave moves. Sometimes I don't care so much the shape of a pattern, it's the thought that counts. Note also that the long-term support line appears to be failing on this latest move down. Valuation is ludicrous (compare it to any auto maker for a concept of how far down it could go) and much of EPS is financial arm - not "high quality earnings" I'd say. Finally, it's got a bunch of clown institutions crowded into it.

I'm short them, and adding. They need to retest 9/11.

BC