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

To: Chris who wrote (22577)	4/1/2000 12:49:00 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 42787

RE: WCOM, remember I am not doing a buy and hold on it and sold some LEAPS already to lock it in and plan to sell more on Monday. I will be legging back out when it pulls back and take my profits. Take a look at the Hi Lo chart I posted on teh NASDQ this time. It has foretold a rally in all short term corrections. if we don't have a sustanined rally from this point, then we are going to really get ugly as when it hasn't gone up from here, it has dropped all the way down to the 1500 area on average which would also mean we haven't even started to see selling yet. Yikes!!! The NASDAQ needs to start improving this week or else. It is do or die time! Would have loved to have seen you in the chat last night. AS usual work had me tied up with some over time so I didn't get a chance to look through all my charts and prepare properly plus there were a few technical problems on my end but it went pretty well. We will probably start trying this nightly or at least 2-3 times a week. It is much easier to talk than type and also better to exchange ideas real time with feedback instead of waiting for someone to see your post and respond. I just wish I could find a bigger program that wouldn't bog down when too many users get on. Anyway back to the market. Mid caps up 4%, that is a good thing IMO. ALso trannies up over 80 points. As I said last night during the chat, I think you can either trade this market short or long successfully since it is so fickle and rotation is rapid with lots of targets in both directions. Some things I don't like. T broke through resistance last week but couldn't hold it and seems to be accelerating down despite tracking stock hype, news of MSFT DT T cooperationin installing global wireless network etc. B2Bs got slaughtered. SI is pushing the conference with CEO of ICGE but have you charted their stock? Nasty downtrend currently trading at 90 and I show it could drop at least another 70 if it doesn't put in a floor here and now. (Sorry I don't have a chart posted on it) Just use the obvious fork on the turn down. WMT looks like the breakout was a head fake now melting Friday. IBM and GE also starting to weaken. Basically news, hype etc just not working like it used to. The thing that scares me the most is the P&F charts. After the high pole corrections which were expected then bounce. We paused Frdiay at exactly the 50% point which is very very common for reversals back down. It didn't seem to matter which chart I looked at, they all looked the same. Next week is a major one IMO since we have the Hi Lo saying we need to bounce, the P&F showing a need for continuation, and time running out for the earnings rallies before the attention turns back to the FOMC and the expected rate hikes. Japan is pushing for Yen Dollar intervention which could prop up the dollar thus aiding the markets so that may help. Did you notice that despite the rates being higher than the target rate instead of draining the treasury added 4.68 Billion in repos Friday morning. This is flagerant out right manipulation of the market and shows the Govt is worried the bubble is too big to fail and will do anyting to prop it up IMO. Good Luck, Lee