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: Terry Whitman who wrote (26603)	12/28/2001 9:03:50 AM
From: Lee Lichterman III	Read Replies (2) of 52237

08:31 ET Economic Data : Jobless claims rose 7K to 392K in the Dec 22 week; this is lower than the 400K consensus and marks the third straight week of low claims readings - good news for the economy. Durable orders fell 4.8%, close to the -5.5% consensus; this continues the extreme volatility of the past few months and tells us little about the underlying trend. ============= OPEC Cuts Oil Output in Pact with Rivals Fri 8:47am ET OPEC producers on Friday tightened the screw on oil supplies in a pact with independent exporters that cuts world production by nearly two million barrels daily from January 1. biz.yahoo.com Looks like market already priced most of this in as oil futures are hanging in the 21.25 area this morning. Don still thinks we will see the 35 area on the QQQ and is putting some weight on the McCellan Summation as the reason. It has clearly turned down. My view is mixed with me thinking the record short interest needs to be shaken out before any real decline yet I look at the VIX and realize there is too much complacency for much of a rally here. Good Luck, Lee

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