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

To: Stephen who wrote (39535)	9/10/2002 9:42:53 AM
From: Paul Shread	Read Replies (2) \| Respond to of 52237

Stephen, I'm 50-50 here. Either we see new lows now, or this correction stops around the July lows and we don't see new lows till next year. On the side of new lows now is the equity PC ratio, which hit major top levels last month. Investors Intelligence also turned frothy a little too fast at the same time. But the put-call ratio has also been quick to pick up on down moves, and Rydex bear funds are loaded to the gills, so those indicators are some support for a new leg up. I think if we see another 90% downside day, the momentum would tilt toward new lows. I'd prefer a four-year cycle low this year, followed by a 12-18 month cyclical bull, just because it's easier to trade patterns you already know. -g- Paul