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

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To: Lee Lichterman III who wrote (27517)	8/11/2000 7:54:03 PM
From: Lee Lichterman III	Read Replies (5) of 42787

I see a lot of bullishness on a rally that was only a few hours long. I pose a question... Can the DOW save the market alone or is there a sector hiding somewhere they can ramp to pull the NASDAQ up.? The reason I ask this is take a look at the DOW. Unless they are planning on awarding NASDAQ type PEs to the old DOW stocks, it can't go too high. How high can you run Chemicals companies that are oil price dependent when oil is not dropping? On the NASDAQ, the leaders aka Heaviest weighted issues are injured. MSFT has litigation hanging over it's head, CSCO growth is slowing and it's book keeping games are finally exposed for all to see. DELL is dead, the semis are hurting and are still grossly over valued. ORCL revenue growth was below that of many DOW stocks. AMZN up 10% today, give me a break. I know, I know FA doesn't matter but other than irrational exuberance, what is there up ahead to cause a rally. Earnings are done and the FOMC is not done for the year. Half the reports show we have slowed to 150 miles an hour in the 55 zone, the other half of the reports show we are still accelerating. VIX has been too low now for weeks, commercials are short in record numbers. I still say all we are seeing is end of quarter propping so they don't have to show J6P another set of Mutual Fund statements printed in red. I think the rally ( IF it continues will be a great shorting opportunity for September) Trade the trend but never let your hands off the yellow handles ( for you non Air Force types, the yellow handles eject you out of the aircraft) Dennis - Beautiful SAR today. You are the master!! Good Luck, Lee

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