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: JRI who wrote (6616)	5/2/2001 1:14:17 AM
From: Lee Lichterman III	Read Replies (1) of 52237

No he didn't post one this morning. Talked to him tonight and he said he was close to a class sell on non tech. ( SPX, OEX, DOW). He had to double check since it was border line. He will probably post one tonight or tomorrow if he isn't too tied up. As Paul said, we are right up against the line in the sand. Some comments from our site I made a little while ago... Lip made a great call on the Stock Attack thread for that intra day dip and go. Steve - Be careful with your shorting plans. We are on the brink of a break out here. FAa doesn't support it but that has never stopped a rally before. We could be going into another exuberant phase like a year ago March. The Bond market, Warren Buffet and anyone with common sense saw the danger but the manic money ran things up for longer and higher than any of us thought possible. Funny the same people are screaming inflation fears but the market isn't listening. Short memories I guess or a new paradigm -g- There are some bullish formations in tech as I have pointed out with the bull flags and inverted H&S. Tough market to trade as we could break above resistance for what proves to be only a bear trap, we could break out for real and run for 2400 NASDAQ, 2200 NDX etc then top out or we could reverse right here as our indicator is saying. The bullish arguement I see is the ignoring of bad news. Note NETE today. Bad earnings, future outlook and sold off over 5 points all day only to recover it near the close. PCLN is up 50% today alone and almost 600% over the last month or so. DELL slashed prices on their newest computers which will squeeze margins further yet they only dropped a percent or so. Reality doesn't matter right now. We may be forced to day trade longs if we break out until some bad news comes out that is so obvious even the morons understand it and are unable to buy it. Today's NAPM survey portion was the worst in 40 years and the DOW shot up 165 points. What more can I say?

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