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

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To: dennis michael patterson who wrote (17518)	11/7/1998 8:53:00 AM
From: Lee Lichterman III	Read Replies (2) of 42787

I was drinking my coffee this morning thinking about that same question and suddenly remembered one of those Favors posts you put up a long time ago. As I remember it, he said at the time we could have a strong bear rally that would last longer than anyone thought possible that would squeeze the shorts into submission then plunge back down when no one was suspecting it. I got to thinking about that coupled with what some have been saying on the other threads I read which is how they had noticed that many of the chart patterns were almost being purposefully made to advertise a top only to have the stocks go up further. It was as though they were trying to fool all the TA guys in the market. I was snooping around the weekly charts this morning and we have more room believe it or not to rise before we are over bought on the weeklies. I started thinking of possible scenarios for this. They run this thing up until it breaks the previous high of 9300 which would signal a higher high making us all believe that the bottom was in and this is a new bull. They start selling off at higher prices and load up short and puts for the ride down. When ready, pull the trigger and let the FA drive the market down. Most issues and definitely the indexes have no suports since this rise has been straight up with no basing along the way. Not only do they get what they were down a couple months ago back for selling at highs but they could double profits riding it down on the short side. Other scenario, looking at the charts, I noticed the indexes are mirroring the action of some stocks I played last spring that dropped, rallied back then got hit this time again. They didn't play in this recent action but instead have stayed pretty flat. If the pattern repeated here. This rally would last another couple months then start stair stepping down until the bottom finally fell out in about 3-4 months. I was thinking probable time frame would be next spring. I still feel that the Fed meeting will be the trigger for the reversal but I am also trying to figure out alternate plans. Ain't the market fun ??? <g> Good Luck, Lee

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