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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (21790)	7/3/1999 2:53:00 AM
From: uclatrader	Read Replies (1) \| Respond to of 42787

hi dennis totally agree with u on internet my favorite stock was cmgi i used to love its huge price swing and made lots of $$$$ on it now it doesn't move as much as before after it broke trend line it seems the ipos r the replacements but i don't have the guts to play it there is no price pattern i can follow too risky for me since i m not a daytrader i m too holding nite which kinda sucks recently i was expecting a bigger run up like amtd did now amtd becomes the darling of my girlfriend's why didn't i buy some for myself:) take look at covd got some today looks good but need volume confirmed though carpino seeing we going higher next week good trading shuo

To: dennis michael patterson who wrote (21790)	7/3/1999 6:19:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Stocks like MSFT, INTC, EMC, CSCO, and LU apparently are being accumulated by the big money interested to get in on this rally. I want to add that there is very strong evidence in the market last week that big money is entering the broader market and taking positions in stocks like those above and many more. This is good for a continuation of the rally. I want to make a note here that DELL is actually showing large blocks leaving the stock. In day trading, as you know, there is a rotation between groups of stocks when the favorite group needs a rest after a period of price appreciation. This is one reason why YHOO and EBAY took the day off for a couple days. For example on Friday speculative money moved to stocks like NOVL and MSPG and QCOM with apparently AOL out front representing the Internets instead of the YHOO and EBAY team recently. EBAY is being accumulated to some extent by some of the big money in the form of 10,000 share blocks, so I would not count this one out. It has helped lead the markets up until recently where it then sold off in relation to YHOO. Those who have followed it as a confirming indicator did very well during this market rally in missing the false starts up and participating in the strong market moves which IMO is essential information for the day trader. Still it has underwent significant technical damage in the past which it has been working off in the form of a trading range where it has recently bounced from the top of the range. A closer look places the trading range of EBAY in a downtrend channel it has not broken out of yet. I also do not like the way it has respected its 20 day EMA as resistance. YHOO is actually in a healthier technical position. What is interesting is instead of YHOO leading and EBAY confirming, recently EBAY has lead with YHOO confirming. This happened when the market made solid advances up. Now we see a sell off Friday past support and currently respecting important support. EBAY is at a juncture. Time will tell what has changed. An "up" market day with YHOO participating will tell us more about EBAY. If EBAY goes down, then it is still locked in its trading range and may continue to lose support in its weak showing on up market days. If EBAY goes up, then I think it will attempt to break out of its trading range. This is a process that can take time. As far as EBAY being in a "death spiral", it has participated in the market rally logging very substantial gains in a two week period culminating in 19+ point L-to-H move on one day has placed a good amount of money in some peoples pocket. Remember as basically a day trader this is a very good trading range for you to have made very good money even though this stock is technically still in a down trend. So it is helpful not to keep separate the intraday price action of a stock with the daily price action over a period of weeks. I see Donald Sew has issued SELL signals for both the DJIA and the NASDAQ. I personally would not place as much emphasis on this SELL signal for the NASDAQ. YHOO is in a position to move up from here. And now that the NASDAQ market has come alive and is on its second leg of the rally, more money will move to the NASDAQ market from the DJIA market. Sentiment has definitely changed in the market. So I would not be surprised if the NASDAQ shows very good relative strength in comparison to the DJIA in the market pullback Donald Sew is projecting to come over the next few days. Coments welcome! Bob Graham