Stock Attack II - A Complete Analysis Message Board

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

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To: dennis michael patterson who wrote (6163)	4/22/2001 12:09:45 PM
From: Lee Lichterman III	Read Replies (5) of 52237

What did they miss? Heck who knows. We all knew a bounce was overdue but being cautious wasn't unwarranted IMO. We knew the bounce was probably for real but that didn't mean I wasn't a nervous wreck all the way up, especially with the tech earnings reports all week. I know I slept better as I unwound my longs and was a happy camper when I sold my last LEAPs. Re: >>I am not buying it. In fact, I am shorting it<< Be careful you are not too early. A lot of amatuer new shorters came in and were making money near the recent low so they may run this up a ways before pulling the rug out again. While I am targeting NDX 2200, it could go as high as 3K and take a few months until reality sets in again. Our indicator is hinting that this pullback will only be "normal" and nothing spectacular. I do think we will revisit the old lows and maybe lower but when is the key question and of course trying to get as close to possible near the high to short makes us the most money. Once again earnings could spark things if not the South American problems. This week is heavy telecom reporting. I think we get AMCC, QCOM, T, Q, and a few other telecom infrastructure plays I can't recall off the top of my head. I am considering short term long plays and easing into offsetting LEAP puts but will be going slow until we get closer to my upside targets. COT didn't change much as of the 17th. Also there were still signs that money was leaving the defensive DOW type stocks such as MO, JNJ etc and flowing into tech. That is a good sign short term of course they were indiscriminantly buying the tech which is longer term bearish. I posted some stuff last night on our site tat says it better I think and will copy it here after this post. Good Luck, Lee

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