Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: 16yearcycle who wrote (7066)	9/13/2002 3:45:33 PM
From: augieboo	Respond to of 30712

Gene, I partially agree with you, but I think that all you guys are confused by trying to look at Jeff's forward retrace charts backwards. <GGG> Take a look at my incredibly autistic ... er ... I mean "artistic" ... presentation of the retrace: angelfire.com I agree that we may get our first bounce slightly above 1000 -- like at that 1017 level. But, once we have that rally to the 1250 region, the key level after that is not 1070, it's still 1000. It took the NAZ three attempts to remain above 1000 before it stayed, and then it retested that level at least six times. Sure, there is a lot of junk at the 1070 area, but Nasday also pierced down to the 970 level twice during that period. FWIW, here's how I think it will play out: 1. After our first visit to the 1000 level, we'll see that snap-back rally to the 1250 level, which I expect to see go a bit higher than that -- 1300 or so. 2. Once that rally dies, I expect we will pierce the 1000 level fairly quickly. 3. Once we are below 1000, I expect to see NAZ bumping along that level for a while, but with a bias toward the downside. That is, on the way up, we got over 1000 relatively easily, then spent a lot of time solidifying that level by dancing on the roof. This time, I think we will do it in reverse, i.e., we will drop below 1000 fairly easily, then spend some time bumping along the ceiling JMHO