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

To: Paul Shread who wrote (39134)	8/21/2002 12:12:02 PM
From: Challo Jeregy	Respond to of 52237

Paul, whether we've seen "the" bottom or not is not the problem to me, at the moment. The current situation is that the major indexes are stretched to their max in O/B territory. For a healthy market environment, we need to pullback, retest or, at "look scary" - VBG But, this market hasn't been healthy in a long time - sooooooooo . . .

To: Paul Shread who wrote (39134)	8/21/2002 12:20:30 PM
From: AllansAlias	Read Replies (1) \| Respond to of 52237

Maybe if you look at the daily, but cutting out the noise, almost all bottoms are after sharp falls, and the rise out sharply as well; they very rarely make double-bottoms and even very deep re-tests are infrequent. Up to the end of the bear of the 1960's/80's, the only decent double-bottom was 1974 (Oct and Dec). This is all basis the Dow.

To: Paul Shread who wrote (39134)	8/21/2002 12:28:44 PM
From: AllansAlias	Read Replies (3) \| Respond to of 52237

Weeklies of big Dow bottoms: angelfire.com

To: Paul Shread who wrote (39134)	8/21/2002 1:18:21 PM
From: Terry Whitman	Respond to of 52237

There have been alot of firsts in the past 5 years. Last fall was probably the first time we ever hit 700+ new lows area without putting in a cyclical low. I didn't think it could happen- but it did.. As for too many worried bears- You're right about there being too many. Too many bears for further new lows. <g> They're just smarting from the over 20% rally we've had off the July lows. There will be alot more pain for them in the future. <g> I suspect there will be some type of retest, higher low, what have you. Usually occurs about 8 weeks out.. so mark the 3rd week of September on the calendar.