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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?


To: Stephen who wrote (53773)9/24/1998 5:14:00 PM
From: epicure  Read Replies (1) | Respond to of 58727
 
I just downloaded my charts- and although yesterday (at least I think it was yesterday) I said everything was turning down, now everything is turning down AND there are confirming nasty candles. Lots of shooting stars (see amzn) and dark cloud cover everywhere. So what does it all mean? I think we have more downside- at least to around 7800 (or thereabouts- I am projecting the bottom trendline of that bearish flag). I am not sure what the odds are that we break the flag and continue on down. Anyone have any ideas on that? I know Favors thinks we will break it- and I like his advice thus far. The bounce was just about what he said it would be although I think the speed of it may have surprised him. But we have all noticed how much faster the moves are in this corrective period than they have been in the past. That is not, in my opinion, a very good sign.



To: Stephen who wrote (53773)9/24/1998 7:02:00 PM
From: Stephen  Respond to of 58727
 
Whilst recognising that the 'Dolly Parton' factor may have invalidated the head and shoulders formation, the recent trading of the DJIA is right in line with a weekly chart that looks on course to complete the ominous pattern. That suggests there maybe more range trading to come imho.