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

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To: TWICK who wrote (25512)	7/16/2000 6:09:43 AM
From: Lee Lichterman III	Read Replies (2) of 42787

Regarding class sells etc, go to marketswing.com and click on Index Update in the left frame, there is a full explanation at the bottom. Kip, be careful shorting the nets. There was a post a few days back by Bobby beara I believe about a huge number of puts and very few calls on the internets. With options expiration next week, the bounce is likely a Max Pain issue to make as many puts as possible worthless before the nets are allowed to resume their down fall. I don't think the bounce is Fundamental as I think even my kids know they are dead meat. It is just a big money game causing some temporary confusion. As far as the rest of the market, I was suprised to see that things aren't as bad as I expected. I have many over bought signals and a few sells but not as many as I thought I would have. We are at the high end though so the most dangerous period is fast approaching. I wouldn't be making new positions trades but established positions can probably still be held with stops. I did get substantial weekly sells in Biotech, Drugs, and some retailers so we are getting close to some sort of meaningful top soon. My stuff is still pointing to a major decline August time frame around FOMC but things are sketchy that far out and I am looking for better short term shorts now. I think the Biotechs are a play short here and the nets should be good for the following week but will wait and see how things line up after this big week of CPI, expiration and big tech earnings. For the Biotech shorts, I have over sold on my short term stuff but weekly sells on my longer term stuff so there should be a bounce to allow an entry then another plunge. To all you software guys out there, you have my respect. I am trying to do some programming and if I make one more syntax error, I think I will be throwing my keyboard out the window. Good Luck, Lee

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