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

To: Softechie who wrote (47861)	2/5/2004 2:26:40 AM
From: Compadre	Respond to of 52237

It is below the 55 ema. But technically, it is still a bull market in the long term. And more times than not it will get a bounce here or very close to here. There were 2 things that made me hang on to my longs this time against my better judgement. After all I knew that there was an I-term trend change going on. And, in retrospect, should not have gone long. The first reason was the heavy volume last Thursday. That made me believe it was a short term bottom of some sort. The second reason was that major tops have always retested before going for the major drop. If we go down here without a retest, it would probably be the first in a long time. Granted that the retest may not be immediate, but could be a month apart. So if we do not bounce immediately, we know then the trend is starting to change in the long term. As for me, I guess I'll be lucky if I come out of this with just a skin deep wound.