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

To: Softechie who wrote (48328)	3/24/2004 12:25:32 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 52237

My guestimation of what could happen if price closes up higher today: trendvue.com Orange "bars" on the right hand side are just guestimations, not predictions. A strong close would open the possibility for a gap up tomorrow which would of course set an Island Reversal on the charts. I think after 9 straight weeks of selling in Nasdaq that there would be some significant short covering. The nice thing about going long earlier today was on larger time frame intraday charts a signficant test of bottom on the SP500 futures was put in - its a good "line in the sand". You can see a new upswing has triggered on this last 45M bar: trendvue.com I may have to bail yet before the end of the day, but so far in the black. Buying on a test of bottom at the extreme is always easier...