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 : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (23783)	5/30/2000 3:49:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

Wish I traded my account like my kids now! My daughter is up over 5% and I am sitting here trying to figure out what is going on. <ggg> This rally looks healthy from what I see so far as internals go but volume stinks. I like to trade SUNW during the day and there just isnt any volume at all. It is even lower than on Friday which was dismal. Looking to some of my other favorites which are mid caps and they either aren't trading at all for periods of 20 minutes at a time or when they do, they are barely moving from where they gapped up this AM. TRIN, TICK, Premium swings etc all look OK and GE finally joined the party but not to the same degree that the indexes are moving. Also, the NDX and OPEX are leading their respective SPX and MASDAQ counter parts. NDX took out the resistnace at 3300 and teh NASDAQ peaked over it's resitance also but now the SPX and DOW are approaching their intra day levels. If they break through, then it should be clear sailing for some more substantial movement. The one thing that bothers me is what we all talked about this weekend. Everyone kept saying teh exuberance was gone and I had posted I didn't think so. Well 200 points higher on teh NASDAQ and DOW and I ask, is this a normal non exuberant day? QCOM has nothing but bad news and it rallies 6 points+? Consumer confidence shows exuberance and a need to hike interest rates further and we rally 200+ points? Yep, those bulls are definitely beaten down and giving up. <ggggggggg> TRIN shows very little distribution on this rally so far so I am holing on to my longs and will just tighten the stop losses but I don't think the exuberance is gone and I don't think this is done yet. We need to fill that gap, retest some lows and get the stocks back in the hands of people that think, not just jump on board soon as it looks like things are going up for the free lunch. The rest of the week has more important economic news before each open and one hour into the days so we aren't clear of the minefield yet although this extra cushion makes it easier to sleep at night since I doubt we will gap down 200 points <ggg> Good Luck, Lee