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

To: dennis michael patterson who wrote (39549)	12/28/2000 10:52:59 PM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 42787

Well here is what I just posted on our site... By L3_Aka_L3 on Thursday, December 28, 2000 - 10:42 pm: Edit I have short term over bought signals on the R2K, OEX, SPX, NASDAQ and NDX and am getting close to one on the DOW. Chances of downside now are getting very high. I am also reading a lot of excessive bullishness on SI. This has been a two week amature hour trading time period and I don't think we can make a lot out of this. You can move a lot of little stocks up and still pocket lots of cash by selling the big ones. The closing numbers on many stocks today don't come near to reflecting what I saw going on today. Stocks like QLGC were basically flat all day until the last few minutes. There was a closing ramp job that masked a lot of the selling that was going on all day. Don't get me wrong, the selling wasn't intense but it was there and a lot more shares were sold throughout the day than were bought in the last 15 minutes. The charts are updated except for the 3 line break charts which I just don't have time for tonight. Things were so flat I doubt anything changed. Jobless claims came in light again missing the expectations by about 25K. Bad weather or do we need more pain before the Fed can ease??????? Consumer confidence came in right at expectations. No surprises there. I am looking for a turn down next week but it could happen at any time. I see no reason to expose myself to longs here and am actually considering a multitude of shorts if I can get a good set up. I am eyeballing a couple longs but want to see something more convincing than a few small timers trading while the big money sells into them which is what I am seeing right now. All my trend data says we are still in a downward trend and I see nothing that has changed my mind to bullish yet other than the new highs Don spoke of and that I have a over sold on the US Dollar which should cause a bounce soon. My new highs vs Lows chart is signalling sells on both the NYSE and NASDAQ. The new highs on the NYSE chart does look like a break out but it hasn't been confirmed by any of my other indicators. There is hope but not promise. -ggg- Good Luck, Lee