Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (49068)	10/31/2000 8:25:28 AM
From: Lee Lichterman III	Read Replies (2) of 94695

>>Should we have a breakout tomorrow, lookout! We could have a March 2000 runup.<< Well I was thinking that this was just a rotational bear rally until last night when I noticed I was getting scattered buy signals so you may be right. My gut says no but my system is saying to start getting long in selected stocks. Oh the horror! -ggg- Nice ramp job going on in futures this morning. I still believe this is at least partially an "elect Gore" intervention behind the scenes. I guess riding along with tight stops is the way to go. The rest of my stuff still points to retests in Early December though so I don't think we will rocket up from here. To many key stocks are breaking down. PMCS broke below support yesterday and BEAS is falling out of a nice wedge. Stocks like SUNW, NTAP etc still haven't corrected enough and are priced for better than perfection. The DOW rally seems all wrong as well. I was bullish on IP, AA etc but not to the tune of 10% jumps in one day and a rally of that size just because UK met lowered estimates makes me think that fund money is just trying to get invested where the least amount of potential damage may be done instead of sound FA type moves. Yesterday saw a lack of bidders, not a bunch of sellers in tech. We haven't had a good panic selling day yet. Until we get one or just go sideways building a firm base, I have a hard time stomaching a strong lasting move upwards. I will trade my signals long but I won't trust this market too much. Good Luck, Lee

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