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Strategies & Market Trends : TIMING INDEX MUTUAL FUNDS
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To: donald sew who wrote (12)2/6/2000 11:49:00 AM
From: Lee Lichterman III   of 428
 
Ooops, thanks for pointing out the profunds sheet. I did update Friday's trade but got caught being lazy and copying the data from the previous trade and forgot to change the dae. The last line should read 4 Feb not two trades on teh first. I will fix this in a second.

I still am not as cautious here as you were but I need to run through some more charts as I was very busy yesterday and still have more chorse in the yard to do today. I am still seeing the chance of a bounce before the next leg down although the pennent is a very ugly looking sign.

As you recall, I tend to look at both the indexes themselves and the underlying issues within those indexes. There are a lot of over sold issues within the DOW that could get dead cat bounces before teh next leg down begins. Also while low percentage, the inverted H&S has not been violated yet shown in the 30 minute charts. I am still seeing a remote possibility of a rally to the 1455 area on the SPX before a reversal down hard should begin.

I am as usual way behind the power curve so until I catch up, I am not too sure of anything. I did see enough of a dangerous situation developing to try for QQQ puts in an extremely small position but missed getting filled by a couple of minutes so I am flat.

I do find it fascinating that you are targeting the Wednesday time period which is in line with CSCO reporting after the close Tuesday. Things that make you go Hmmmmmm. Their revenue growth was paulty last reporting cycle so who knows. Of course they will announce a split so fundamentals may not matter yet again. <ng>

Goodluck,

Lee

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