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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Robert Graham who wrote (14668)	8/18/1998 1:09:00 PM
From: Lee Lichterman III	Read Replies (1) of 42787

I agree however I think we also have to pay attention to the key numbers on the indexes. I notice as of right now we are at the crucial yeah or nay points every where I look. DOW=8700, SPX 1100, NASDAQ 1850, MU at 35 1/2-36 resistance, KEA 56 1/2 resistance etc etc etc. I have been sitting on the side today waiting to see what happens although I have missed some good trades. Breadth looks a little better today than yesterday but the TICK is trending down now, so I feel we may get a closing sell off. I hate to say it but I think we are nearing the end of this short spike. DELL earnings may spark it again tomorrow but it seems to me there is going to be some serious profit taking soon. I have learned to respect the TICK and right now it is telling me that this is not the time to be jumping in.

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