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

To: Compadre who wrote (46721)	8/22/2003 4:44:43 PM
From: SpecialK	Read Replies (4) \| Respond to of 52237

If today's action is not the signal of a top, I don't know of any better signal. This morning I got tied up, but was considering shorting the QQQs when the Nasdaq was up 30. I like WEBX the company, but believe it's action this week, is telling me it's headed 10-20% lower over the next 2 weeks. I haven't looked at all other stockcharts, but I have a feeling with the overall market action. I saw an article (can't find it now) that talked about a non-tech company that warned 6 months ago, that was the bottom, now it's 69% higher. Today, we have Intel giving us an upside surprise, and it's as if the market anticipated this by moving higher all week. We've priced in the best scenario, whereas in March we had priced in the worst case scenario. Some will argue that we still have upside to reaching the best case pricing. I have my doubts with that, as Intel has shown the market's true colors. Also, AMAT has risen 12%+ on pretty lame numbers in their results 8 days ago. Ketan (calling the top here on 8/22/03)