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

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To: Les H who wrote (22358)12/1/1999 6:18:00 PM
From: Lee Lichterman III  Read Replies (1) of 42787
 
Thanks for the heads up regarding the numerous sell signals. I was luckily busy today so I couldn't trade and my internet went down last night right after posting to you and I was unable to get back on until tonight so I was pretty much locked out anyway. I have to admit though I was slightly upset when I saw many of my buy targets like GE, AMAT and SLB bump up to my scalp targets.

I agree with you though that the market still isn't behaving as it should. A few of my other targets were either flat or down despite the large upward move in the DOW today such as QWST, BGEN and a couple techs like CPWR and HLIT. I showed many of these ready for at least a technical bounce and thier weakness today I believe hints that the next phase of the rally may be even narrower than the last as this keeps perpetuating the index dress up game.

Of course maybe today was a day 2 Don type bounce for the NASDAQ and tomorrow will be bloody again.

Fed meeting in two weeks. I just walked in the door so I don't know what any of the economic releases were although I did hear something on the radio about how some report was showing a possible slowing of the economy. Looking at teh long bond though, it looks like not everyone was convinced <g>

Bill, thanks for the concern. Different times I guess. I am not sure who I want for the next president. Of course being in the military I am heavily swayed to the Republican side and like some of Bush's proposals. Yet since the Democrats are famous for creating economic problems that don't bear fruit until later in their successor's terms and the American people never seem to figure it out, I almost wish Gore could inheret this bubble so it can pop on his watch. I would hate to see Bush get blamed for Clinton's stagflation set up. I think it will be difficult to deflate this market slowly and gracefully. Any sharp objects or static electricity could cause a boom that will be heard around the world. <ggg>

Good Luck,

Lee
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