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

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To: Chris who wrote (22755)	4/12/2000 11:55:00 PM
From: Lee Lichterman III	Read Replies (3) of 42787

Well I am watching the 3500 3450 area on the NDX carefully. Don and I both have forks pointing to this area and we are both getting class 2 buys. Of course negated signals would be extremely bearish but a bounce should be close at hand. Not sure if it will be the bounce and I tend to think not from a TA point of view but fundamentally, I have been waiting for a good report from a major tech to turn things around. AMD did well tonight after the close but RMBS missed expectation and though earnings doubled, revenue growth was 60%. Not exactly what a PE of over 400 forward earnings equates to. <ggg> I believe the short term direction will be decided tomorrow before the open. PPI will be released and we have earnings from SUNW, GTW and a few other of the bigger techs. A good combination and we could be off to the races. I saw Dennis' comments on another thread and I think he is right in that there is a lot of money waiting to get in and is getting anxious. Note how bonds are falling, the TYX and TNX put in a tweezer bottom on the weekly charts indicating bonds have topped for a while. All this bond selling means cash on hand. Of course the big if is how many margin calls are going out. Of course if SUNW misses, it is all over and tech will be body slammed so hard, it won't be able to think about getting up much less bouncing to any degree. I had a lot of broken trendlines/fork tines tonight but I also have many times more sitting on supports. These could be the screamers if things go well in the AM. I am watching some telecom and the usual tech suspects. While I feel SUNW and CSCO are over valued from a FA point of view and even technically since I had to re-adjust thier forks a few months ago due to the frenzied buying, other high flyers like EMC are not extended too much from their longer term growth rates. I posted a good article about CSCO's valuation on our site tonight. You can also find it on John Pitera's thread where I stole it. <ggg> Work still keeping me from trading. I wait months to short this thing, then when it breaks, I am totally out of touch. Why couldn't they have waited 2 months to have me switch jobs!!! I love this job though, I am so busy, the day is over before I finish my cold mug of morning coffee. I think we have a high probability of a bounce soon and by next week for all but sure. If we can bounce enough to put a right shoulder on my 3 line break chart of the NASDAQ then things can really get exciting!!!! Good Luck, Lee

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