Stock Attack -- A Complete Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Lee Lichterman III who wrote (22494)	3/28/2000 12:04:00 AM
From: Lee Lichterman III	Read Replies (1) of 42787

Here is a post I put on our site tonight as I feel there is a danger I am choosing to ignore..... ....The topic of this post was the High Low chart. This is a tool I built a while ago and it has done very nicely for calling tops the last few months especially. I am posting it because my other analysis disagrees with this chart so though I am posting short term pullback but mid term bull, I feel I owe it to the readers to show them a possible very very bearish signal I am choosing to ignore. I posted a link to this chart off the main page. If you click on where it says High Low chart and as it says note where we are on the resistance line and the sell signals I have been getting for the last few trading days ( thus my call last week for a pullback starting Thursday ) You will see why. Also note that on that chart, when we have hit this level, some of the corresponding downdrafts have been fairly severe. I would exercise extreme caution in your trades. I have been seeing the same two chart patterns over the last few weeks. Half are resolving bullish and the other half are breaking down to new intermediate term new lows. Some as I write this are sitting at major decision points. Stocks that we like to trade so much due to their volatility. I hate to sound like I am chickening out but I honestly believe or expect half to go bullish and the other half to fail and drop like a rock. This weekend I saw weakness due to over bought conditions in the banks. Tonights news is blaming it on interest rates. I am not so convinced and want to see how far they pullback. One other danger sign I see is how so few stocks are pushing so high. IBM, MU GE etc are really stretching out. The main indicator stocks I watch as an early sign of danger are just trading flat so I can't use them to help out here either. They aren't falling yet they are running up either. If this High Low chart breaks through to the upside, we could have a major, and I mean MAJOR bull starting again as this would be forecasting a broadening out of the market. I only am showing from last fall to now but if I were to pan back a few years, you could see when we were in a true bull market. Highs outstripped lows by 300-500 a day. We haven't seen that since October 97 and especially April 98. I am closing out all plays once again to go flat ahead of the MSFT news and some clear direction as I thought today would be down more in tech land but the strength and lack of volume has me wondering if we are coiling for a major break one way or the other. Until I find a good straddle play, I will stay out. Good Luck, Lee

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next