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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (21205)5/25/1999 4:59:00 PM
From: Robert Graham  Read Replies (1) of 42787
 
Did someone mention my name? ;)

A quick note right now:

This market sell off comes as no surprise to me. Longer term pattern of selling the techs with the last not being met with money reentering the market for the anticipated rally. The wrong issues moving up. And undeniable signs of smart money LEAVING the market that I had posted about earlier on the backs of rally attempts. Rally in techs did not happen as the market anticipated. A market that has been "sick" for some time now showing signs of readying for a spill. Patterns have been in place for some time now. Time was the unknown here for the short term trader.

A milestone of 11,000 is all it took for smart money to leave a market that as "looking" to be ready for another move up. I suspected that once the market began to sell off, it will prove to be more significant than the last sell off due to the preparation by the smart monies involved. For instance, no need to support the market as in former sell offs.

The market is not as healthy as some thought it to be, and has not been for some time now.

Bob Graham

PS: This root canal that I had recently was no fun! Dentist described in great detail what he was doing as he was showing me the bloody masses of tissue he was removing from my tooth. Shot did not help the pain as much as I would of liked.
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