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

To: The Perfect Hedge who wrote (20433)	4/15/1999 7:54:00 AM
From: dennis michael patterson	Respond to of 42787

So, where do we go from here? That profit from NTBK is burning a hole in my pocket! Vert should pop back. But this quick, sharp down move felt like January in the nutz, when the trap door opened and took everyone down.

To: The Perfect Hedge who wrote (20433)	4/15/1999 8:31:00 AM
From: dennis michael patterson	Read Replies (1) \| Respond to of 42787

This guy is looking for a turn. He's good: ============================================================= THE ZANGER REPORT - Wednesday, April 14, 1999 ============================================================= dennis patterson Hello out there stock fans. A very strong opening today for about 3 minutes, followed by a brutal slide in almost all stocks today. Like I mentioned in last nights letter, we were primed for a big and fast slide in these very extended and very exciting stocks. All the internet banking stocks that were up 20 to 70 points yesterday, were down 20 to 70 points today. Internet online brokerage stocks were down 10 to 25 points each. All rally attempts were quickly met by waves of selling throughout the day. There was not a buyer to be found anywhere for these very extended stocks. After the bell today, I thought that tomorrow we would see a big gap down to shake everyone out , followed by a strong rally. But today after the bell Ameritrade (AMTD) announced super earnings, double what the market expected. The stock was up $7 in after hours trading. This alone may cause stocks to gap up in price at the open tomorrow. If we gap open tomorrow, I will more than likely be using the strength to unload most of what I have left. A few weeks ago I talked about the nine month cycle that comes around every nine months. The cycle top for this market was due April 7 and today it's April 14. I think today's action may be the start of the end of this market cycle that started back at the end of September. This weekend I will show some charts of the cycle and where we might be going from here. >From here on out, there are going to be some very heavy and violent whipsaws in stock prices. Remember many stock are going to act like rubber bands. They will go down to unbelievable prices, then the volume will dries up the stock will snap back, but to a lower high than the previous day. This will start the process of lower lows and lower highs. This will be the start of the creation of the descending trend lines that will start to control the stocks price movement. I would like to note that due to the massive amount of new day traders that are online now, the landscape in technical analysis has change dramatically. I am adjusting to many new chart patterns and the mania surges that have drastically change what used to be the norm in market timing. Even though I am mostly in cash now, do not take this as a sign that the market in going to drop in a big way. In this new era of the day trader, we are sure to see new highs in many stocks that will run up as though everything is as rosy as could be. When the patterns tell me a stock is going up, I'll be here to show it to you before it moves. Tonight I do have a chart of the Goldman Sachs internet index. You will see that this index is at the upper limit of it's trading band. This means that internet stocks are due for a rest. chartpattern.com I will have more for you on Sunday Daniel J. Zanger, Chartpattern.com ============================================================= D A N ' S 1 0 G O L D E N S T O C K R U L E S ============================================================= 1. A stock must have a proper base of 6 weeks or more before you buy. 2. Buy the stock as it leaves its base and makes a new high. 3. Be quick to sell your stock should it fail after a break out from its base. Cut your loss at no more than 5 to 7% of original purchase price. 4. Sell 20-30% of your position as the stock moves up 20% from the buy point. 5. Hold your strongest stocks the longest. Sell your slower moving or weaker stocks early. 6. Identify and follow strong groups of stocks. Try to keep your stock selections in these groups. 7. After the market has moved for a substantial period of time, the more vulnerable your stock(s) will become to a market sell off. Obey your trend lines at all times. Sell your stock only if it breaks its trend line. 8. You don't need to trade all the time and you don't need to be in the market all the time. Generally, we are in the market twice a year. 9. Many stocks are mentioned in my newsletter. Do not buy a stock until it crosses a trend line and never pay up by more than 5% past the trend line break. 10. Never go on margin until you have mastered the market and your emotions. For the average person this normally takes anywhere from five to ten years. Margin can wipe you out! Follow these ten rules and you will make money in the Stock Market. ============================================================= M E M B E R S E R V I C E S L O G I N P A G E S ============================================================= -- Newsletter Archives: chartpattern.com -- Membership Renewal: chartpattern.com Please use your Email and Password to access these sections! ============================================================= This is an opt-in mailing -- This is not SPAM! =============================================================