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NEWSLETTER & Oscillator Programs

Hello out there stock charting fans. I think that today may have been the last day of the extreme downside
action for at least a few days. I see that the volume and the closing price on the Dow were very positive. We
should see some follow through tomorrow. From what I can see on the short term oscillators, we are as
oversold here as we have ever been in the history of the stock market +/_ about 1%. I think that the way some
of the bigger cap stocks closed today, we could see some, but not many upside surprises to tomorrow.
I would like to say that we are close to being as completely sold out as we were in Sept. of 90' and 94'. Both
bear markets. The bear market in 90' lasted about 6 to 7 months.
I know that I said that we are in an of cial bear market yesterday, and I think that we are. That said, that
doesn't preclude us from some strong bounces in the market or individual stocks.
Again, I am scanning the market for some potential new stocks that may pop at any given time and I will
keep you apprised of them. One such stock is PPDI Pharmaceutical Product Dev. I have attached a chart for
you to see the cup and handle. As soon as I get my new draw program, I will draw the cup for you to see if
you can't see now. If the stock breaks the trend line that I’ve drawn then you would normally buy this stock at
the very moment it breaks north of the line by no more than 5%. In this market I’m not so sure that I want to
own anything long. I use this just for an example.
Beware your short positions and cover if you need to and remember it will take at least 10 weeks, at the very
least, to resolve this mess. Remember shorting takes time, so don't rush to cover just on a bounce,
Dan@Chartpattern.com

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