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

To: Gersh Avery who wrote (24408)	6/17/2000 2:52:00 PM
From: Trading Machine	Read Replies (2) \| Respond to of 42787

Wellllll Gersh, just to put a little balance in this opinion - the banks didn't TANK! Sorry! The difference between $1.34 a share and $1.25 or so, isn't defined as tanking. As far as oil is concerned, I too share this concern but an analyst looked at the price of oil after inflated dollars were used to pay for it and its still cheap. It is my belief that it will have an impact but not quite as negative as the author implies here. You know my views on the H&S on OEX. The only thing I can say here is that there is a heck of a lot of resistance/support and other stuff before we even think about breaking the neckline at 725 (mine) or 735 (his). I have my blue line at about 755 or so, and historically if that line is broken (and it can be), I draw two conclusions. First we don't go very far down past the line and second, we don't stay there very long. I had a similar experience when OEX was at 640 a coupla years ago, - The FED stepped in and bailed a bunch of folks out! To break this H&S to the down side would, in my opinion, have the same connotations and if it were to happen (which I think is very unlikely) I would bet the farm (and I do gg) that the FED would once again step in. I DON'T KNOW, ITS JUST MY OPINION, and we all know what thats worth. ggggg CU Paul K.

To: Gersh Avery who wrote (24408)	6/17/2000 4:27:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Gersh, the projection down would fit my fork nicely on the weekly also. marketswing.com Robert, my main concern is that too many are expecting AG to come to the rescue in the event of a market drop. I almost choked last night when a guest analyst on Rukyeser stated that in the event of a bank failure or market drop, AG Absolutely would save them. AG has warned and warned only to be laughed at. Heck, he is old enough and has enough money he doesn't need to worry about finding another job. How do we know he won't just sit back, grin and say I told you so and let it all drop. I know I would. You can teach your kids, warn them, tell them the consequences and even bail them out of jail a few times but sooner or later you just have to let them learn for themselves. I know when I have one of my kids from work get a DUI or something, I warn them not to expect me to bail them out right away. Whenever the cops call me at 2 AM to inform me that they caught one of them and then ask when I will pick them up, my answer is always the same. Around noon tomorrow, I want them to think I am not coming at all and let them get really scared in that beautiful environment with all those colorful people and I want them to have time to sober up so it impacts them fully -gggg- (I am a cruel SOB I know) AG has given the warnings, he has given them years to get rational, I think the time for bailouts is over. He didn't have a choice in 98 because the implications were too Global, this time it is mainly in the US although there will obviously be some bleed over. There are too many here that are just simply arogant and flaunt thier "new paradigm" rantings in the face of those that actually think and don't react to Mo Mo. One of those is already starting to get obnoxious again on other threads so I think the time might be drawing near. <gggg> Now don't get me wrong, as I stated on our site, I am not convinced this is as bad as Friday looked. The DOW looked like dead meat but many of the other charts in dofferent sectors looked OK, not great but OK. The NASDAQ is only about 50 points from a breakout and I see plenty of bullish stocks. The market is split, as always lately, and until they decide together which way they want to go in unison, it is still a toss up. Churning and rotation, churning and rotation...... Good Luck, Lee