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 (7106)	5/5/2001 11:59:05 AM
From: Lee Lichterman III	Read Replies (1) of 52237

Wow, Dennis, that is an old article. I guess I should write a new one for him even though I don't have time to do two sites anymore. Thanks for digging out that old dino. I forgot all about that site. Catman - Welcome to the thread, about time. Just don't stop posting on our site. -ggg- Good Points but I will take issue that TA didn't say this bounce would happen. I think all along we have been looking for a bounce to around 2200 NDX. It is just surprising FA wise it can do it in the face of so much bad news. As far as rate cuts, consumer spending spurring a new bull etc., anything is possible but as I said earlier, I take issue with many of the issues that are bouncing. I doubt they will all go out and buy web enabled cell phones, that they will all decide to open a web server farm etc. yet many of the stocks that are in these sectors are the ones trying to lead the charge up. This just looks to much like a bear rally/dead cat bounce. None of these stocks have even hit the 38% retracement of their falls yet much less surpassed the 50 or 62% that would lean towards this being anything longer term bullish. Don't get me wrong, I many if not most stocks may have seen their lows counting old economy brick and mortars. Some techs like Storage, Processors like AMD etc will no doubt survive but many others will probably fall back to lows and just languish for years. I think this bounce could last a day or 6 months but the levels close to the lows will be seen again. I would bet on sooner though rather than later due to the pop, drop and rally I spoke of before. Just like our discussion on our board, FA always wins in the end unless this is a new "pair-o-dimes". The last pair didn't end very well. -ggg- Good Luck, Lee

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