Stock Attack -- A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: dennis michael patterson who wrote (21720)	6/17/1999 5:11:00 AM
From: Lee Lichterman III	Read Replies (1) of 42787

>>bonds closed on their lows of the day, and the markets ramped. I don't get it.<< Bond traders are a bit less irrationaly exuberant than stock traders that own islands and helicopters <ggg> I think there was a lot of money pulled out the last few days and they were just looking for an excuse to buy. Once the market started ramping up, everyone jumped on board afraid to miss out. I think we are going through a phase like last July where we go up for no real reason and on no fundamentals ( wow I forgot how to spell it is so late). Look at what is moving up right now the most. The internets which aren't worth squat and now have shown how fast they can drop, semiconductors, like they will ever see profits grow again... NOT!!! Semi equips, yeah they will get a few orders then drop into oblivion again like always. I think they are ramping this baby up to get short at higher levels on the backs of J6P and then they will pull the rug out again. J6P falls for the same tricks over and over and over. Of course I went for the ride too with a half position but I will put the trailing stop loss in as soon as it gets to a profit area then move it up each day or until I see a sign that it is coming to an end. On the other hand, some key resitance levels were taken out today in the QQQ, GE and a few others with many many more sitting right at key resistance. Tomorrow will be very telling if the rally can move up to the next level and take those resistance areas out. Of course ifthey all bounce back down and fail to break through on the "profit taking" cover story, I will run back into my bomb shelter and flip[ to puts. Also of concern is the Max Pain level being lower on the OEX than where we are right now so they could tank her sometime here before Friday's close. I had thunderstorms messing with my power and taking my computer down so I couldn't get any of the sites updated until just now. I am now done and even did the weekly charts to see how things were going. Hey let them rally, though I have some good shorts from the daily charts, I like it even better when they really push them up so they trigger the sell signals on my weekly charts. The higher they go the harder they fall and I have made more this year short than long <ggg> Good Luck, Lee

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