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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: donald sew who wrote (10869)7/3/2001 12:21:41 AM
From: Lee Lichterman III  Read Replies (1) of 52237
 
Charts are updated on our site.

VIX is at a low point on my forks since it fell faster than I thought it would, I figured it could reach 18 in a few days but instead it has dropped so fast, it is already to my bottom tine, VXN is at a new low and I have some new sell signals as of tonight. Bonds and notes saw a bounce today as money is rotating out of stocks and into safety areas and as Don mentioned, the R2K made a bearish engulfing. All good signals the uptrend is over at least short term.

Our indicator is signalling that the time is right to leg into shorts or at least take profits in longs in all but the DOW stocks. All this coupled with Don's signals tells me that despite the exuberance and total ignoring of fundamentals, we are about to take the clowns for a dip down. I don't show anything that implies this will be a large drop so unfortunately this won't be the house cleaning I want but it might put a bit of a scare into those buying these tops. My only concern now is the holiday shortened week will delay the reaction to the signals but if we climb much more, that would just give me a hard sell trigger and that would make the coming drop larger and more ruthless. Oh I pray.... -ggg-

Of course this is all just my opinion, do your own DD etc.

GLOBEX triggers are biased to the upside for tomorrow's open by about 2 S&P points.

MRK starting to look interesting IMO

Good Luck,

Lee
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