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

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To: dennis michael patterson who wrote (17393)	11/5/1998 12:01:00 AM
From: Gersh Avery	Read Replies (2) of 42787

Hi dennis. The liquidity viewpoint. There was a large pile of cash taken out of the bond market today that was not entirely relocated. The dollar has reversed and is again, tonight, showing signs of cash flow heading toward the US market place. A large percentage of the people that moved cash out of stocks and into money market funds have still not moved the cash back into stocks. These same people have continued to work and contribute to the money market funds during this time and are very tempted to put the cash back to work. Favors has produced another wave of short covering. The Fed has yet to be able to hit the target fed funds rate of 5% and needs to inject more cash into the system to achieve this. Market specialists still try to short the market to get it to drop and fail .. adding fuel to the fire when they jump to cover. The liquidity wave is still rolling in. As there is probably more cash on the side right now then was pulled out to produce the lows that we had, the possibility of taking out the July highs is strong. We could break the 1129 resistance tomorrow. Key indicators to watch are the tick and trin. As long as the trin stays below 1 there is little to fear on the long side. If the tick is positive and the trin is less than 1 jump on. When both are reversed jump out. Course I could be dead wrong .. been there before. So all of the above is worth just what you paid for it<g>. Gersh

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