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

To: Dan Spillane who wrote (26117)	7/28/2000 12:07:01 AM
From: Lee Lichterman III	Respond to of 42787

>>Does anyone else see the selloff in semiconductors to be very speculative? << Not me, but I saw the buying of them to be irrationally speculative! Anyone remember the Jerry Favors 3 peaks and dome? Is it just me or are these starting to look the same. The top is Jerry's chart and the bottom one is the NASDAQ chart done in the 3 line break charting method. ( It is a bit compressed to fit most people's screens.) marketswing.com That chart scares the heck out of me but other than that one chart and the complacency evident in the put call ratio and VIX, everything else I have says we rally from here. I have class 2 over sold signals on the High low chart which isn't very common and most of my cycles are primed for a break upwards. The big question will be how far and how fast the rally is. If it is to fast and tries to go straight up with all this technical damage, I will be thinking it is a bear rally and should be shorted with a vengeance. if it is a relief pop and then bases, it may be safer to dip here and there with close stops. We are now in the end of month Fund buying window so that should help a bit. Don't forget the GDP release tomorrow, the numbers I keep seeing for expectations is 3.8%. We'll see. Good Luck, Lee