Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (17500)	6/16/1999 4:23:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Wote an edit novel on my view of the market and lsot it. Too tired to rewrite it. Basically it said I agree with LG that we need to pay attention to head fakes on any wedge breakouts like GE. ALso said I agree with Don since all my charts are extremely short term over sold that a bounce was likely unless the CPI numbers are bad. My opinion is the CPI numbers will be onthe high side due to this being the first full month with $18 dollar a barrel oil. Will the market look at the numbers with the oil factored out? I wrote a long paragraph stating there is no fear still in this market despite the margin calls. One read through the boards tonight and there are too many people willing to buy CMGI because it is a bargain. This is a company who just missed earnings by 300% and who's value is their holdings in internet stocks that have just all lost 50% of their value thus the companies worth and future earnings are lower. I can see a bounce but if there were real fear, no one would be buying, the "there will be another sucker that will over pay more theory" is still alive and well. No fear, no fear at all and therefore no real bottom yet. Many of these stocks are bouncing because they are near their 200 DMAs. Wish I wouldn't have lost that first post, it was better written but hopefully you get my point. Futures are up strong right now and as Gersh said, we could be negative and still be in the buy program range. Of course if the numbers are bad in the AM then things could change fast. Last, does anyone have a good reliable true value for the HCX high yesterday 15 June. Reuters gave me bad data on the high so I had to fudge factor it to get the chart done but want to fix it ASAP. Good Luck, Lee