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

To: donald sew who wrote (23871)	6/1/2000 1:57:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Just a repeat of what I PMed you earlier reposted for public view.... Saw a pretty good market guy, (not good in timing but good FA) on NBR tonight and he says the MINIMUM rate hikes by AG will be to 7 1/2 and maybe more. He stated that the reports today were showing small pullbacks but only from record levels last month implying we are still inflating fast. He also said that beneath the numbers, all the wrong things declined and and there was still hot growth in all the inflationary things that point to over heating. Your retest scenario sounds like it is still valid. He even said that if the numbers keep going like they are, there could be more hikes to the 8% range. Ouch!!! I saw a lot of fib retrace levels from yesterday's gains so the declines today were not that disturbing to me. One thing I didn't like today was the steady incline in the TRIN. Distribution starting to show up again. This needs to stop quick for the rallies to have legs. I don't have sell signals yet but I don't have a guitar, I just have a piece of string tied to some old stick I found. The volume picked up a bit today during the distribution also which is not good but I am not too bearish here. I saw some posts refering to my 'no excuse for not getting out in time' remark yesterday. I didn't mean right away. I am still in the camp of an upward bias until the mutual fund quarterly reports closing out. I really don't think too many wall streeters want to admit that they are down so much at the mid point of the year and see the inflows of funds get even worse. Not that our market is rigged or anything but there is a common interest in seeing that as much fresh new "dumb" money flows in as possible so they can unload at higher prices before things get really ugly. WOuld you rather get caught holding or sell at 10 bucks or sell in a bogus rally for 15 bucks and then get to buy it back at 5 later? EDIT - I did go flat this morning though but only because I will be away from teh market for the next few days and will be unable to trade or babysit my longs I had from earlier. I may miss some more upside, but I think I will be able to get back in later at teh same or lower prices when less is happening news wise and a clearer picture will be there. Good Luck, Lee