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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Electric who wrote (17400)11/5/1998 7:04:00 AM
From: Lee Lichterman III  Read Replies (1) of 42787
 
My only concern is everyone is getting bullish, heck I am even long right now!!! My timing indicator still says today will be close to the top on the OEX. Now I have to decide if I should pull my longs and go cash, let them ride or switch to the short side of which the pickings are slim unless I go with OEX puts.

Transport index was down, PG dropped a little but A/D volume was still bullish so I may let my longs ride another day at least. I hope you got that nice jump in HMTT.

Sorry my site was late getting updated again. I am putting in serious overtime lately and when I came home last night, I updated the charts then went to bed before updating my page. I still show us needing to retreat a little here if not more which ticks me off since some of my longs are finally starting to move up. As I said yesterday, I would wait on MU,and some of the other irrational stocks until they give a signal the top is in. A large drop in MU today would be nice since it would form a tweezer top but right now, there is no logic in this market. IBM is starting to look tired but GTW blasted up and with DELL earnings just around the corner and MUEI still moving strong, I don't want to be short a Boxmaker right now. I hate to do it but I think I will be all cash again by Friday's close. I just can't see this going up much more. On the other hand, I do see allot of inverted head and shoulders in the charts which means some of these stocks are primed to run allot higher. Scary thought!

Good Luck,

Lee
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