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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Lee Lichterman III who wrote (13841)8/4/1998 4:26:00 PM
From: Robert Graham  Read Replies (2) of 42787
 
No disrespect here, but when have you last looked at the DJIA? It is down 300 points right next to the close. Looks like we may close below 8550 today. This on the heels of a down market that has already sold off in the recent past. How much more evidence do you need that we are in the middle of a market correction?? By the time you decide that we are in a correction, the market will have levelled off, then I am sure this is the time to say: "See, I told you so" while we are sitting at the bottom of a 10% or more correction of the market.

Lets see...DJIA not too long ago was over 9300. This so far represents a drop of about 8% already. We have gone below the price level that the correction last October achieved. Were you thinking back then what you are now? If not, what has changed this time around?

DELL is continuing to break down, and this is suppose to be when it goes UP before earnings. Right?? The bounce in the middle of the day was short lived. No great surprise here. MSFT and INTC continued their break down today, two bellweathers that held up in the market until recently. AOL dumped and is moving toward support at 108. Even IBM and GE started to break down today.

The street is starting to become the color of red. And you choose the preset time to ask what everyone is talking about when it comes to the prospects of a large market correction? I do not understand. Please help me understand where you are coming from here.

Have I read into your post much too seriousness?

Bob Graham
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