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 (12661)	7/25/2001 11:00:46 PM
From: Lee Lichterman III	Read Replies (3) of 52237

Well I almost hate to say it ahead of all the economic news and the QCOM earnings release but.... I have buy signals on the NASDAQ, NDX and a bunch of techs. Recall that my system has a built in fudge factor though due to the momentum part of the equation so if there is no follow through and we break below today's lows, the signals will likely turn off. This system is designed for utilizing stops since it is trying to catch the exact turning points. Our NYSE indicator has a nice looking buy trigger for an "average" size rally but the others are hard to make out. Impressive reversal in some stocks I was picking on yesterday like WMT and HD. In the non techs especially, there were quite a few tweezer bottoms which is usually a pretty reliable bottoming signal on it's own. Tonight's earnings were about par for the quarter, met or beat lowered estimates and then warned for the next quarter. Most also missed on revenues. QCOM is critical tomorrow as their earnings release coupled with the GDP Friday AM and mood following initial claims, employment cost index etc should set the mood for the next week if not next 2 weeks. If they miss or say bad things and the economic numbers are bad, kiss any rally attempts goodbye. If they can put up some good numbers and the economic data isn't too bad, then we might get a decent bounce to delay the inevitable drop later down the road. Of course, all this is JMHO. I want to see some breadth on this rally attempt however as today's big move in the DOW was on the backs of only a few stocks. The SPX and OEX moved nicely though in concert so there is some hope. EDIT - >>I think the market is actually getting boring. I am on the verge of mutual funds! << Say it isn't so!!!! We must either be at a bottom or about to crash then!!! -gggggggggggg- Good Luck, Lee

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