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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (17886)11/21/1998 1:16:00 PM
From: Lee Lichterman III  Read Replies (2) of 42787
 
I agree with you that this is a strange way to have to trade and it is killing me since I have firewall problems and workload problems on the job that limit my ability to participate in this but when DELL isn't playing and my best plays for the past few years aren't moving up despite no chanbge in FA, something is wrong. I still have small positions in some of mu favorites but if they don't move soon, we will reverse. Don was seeing a 5% pullback starting as soon as Friday. My indicators are now almost up to where his were Thursday ( I have 83 OEX and lower on DOW) so I too show us partially over bought on the OEX and nearing that point on the DOW. The RUT and AMEX have been flat so I think we may be at the early to mid July point right now. a few more weeks and we should top off. Then we see if we stay flat or we repeat the events of summer. I have been keeping a short list closer by now and once the top comes, will start laying down small positions there to straddle. As the internals deteriorate, I will pull the longs and try to transition to the dark side. My short list Friday night was some scary ones but according to the charts, they were the most promising if the tide were to turn Monday. I wish some weaker stocks would come out instead of these but they were the ones that showed the most bang for the buck if the market were to trend down by my read.

Lee
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