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

To: Jack T. Pearson who wrote (26659)	8/3/2000 12:12:43 AM
From: Lee Lichterman III	Respond to of 42787

I am not that negative. I am actually slowly getting a bit more bullish due to the elapsed time allowing earnings to start to catch up to stock prices. Of course I feel they have a lot further to go but at least it is a start. I have been trading more longs than shorts recently. I just try to see all the possibilities and see what news moves what and read the breadth and types of moves. Rocket moves up on bogus news interpretation smell of bear rallies. I would like to see real good news cause a normal market reaction or better yet, a flush out of "dumb" money to get the RYDEX ratios, put call ratios and VIX back to some balanced levels and then build a real base to launch off of. Up to now I am not seeing that. Go to the EMC thread and they are doing "what will our market cap be when our revenues reach XX dollars next year drills. No where is there talk of our 150 PE and PEG ratio over 2 hinting that their market cap may be at it's peak. <ggg> Until we get some fear, I doubt we can make a real bottom. As for the DOW, the last couple days before this one I felt were bullish since PG weighed it down Monday and WMT weighed it down yesterday. However today IBM was trying to move it by itself which I don't think is healthy. Monday and Tuesday were more broad based moves as opposed to today's thin movement. I think Don will get his DOW sell. The big question is will the bear flags all break down together in the other indexes or will we see a rotation from DOW to Tech. I would bet on rotation if it weren't for Friday's employment report. News can move mountains. Look for private sector jobs to be under 200,000 for a flush. Now on the opposite note, GLOBEX futures are biased strong up with a negative 1 1/2 still being a buy program territory and at least a minus 6 needed to trigger sells. Good Luck, Lee