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

To: dennis michael patterson who wrote (1928)	3/4/2001 10:44:27 AM
From: Lee Lichterman III	Respond to of 52237

I agree we are overreacting somewhat but it is because we "overreacted" to the upside before. Using Don's banjo string analogy, a snap back overreacting the same as we did going up would put us around 1500 thus my target along with a few other means of measure. It just seems no matter how you compute it, that number keeps coming up. I only lowered my NDX target due to the weighting of the index and the stocks that still haven't fallen much. I actually would rather be proven wrong and hope that 1500 holds. Reading around SI, I am amazed that so many still don't get it. This is not 97, 98, 99 etc. Look at some long term charts of the Gorillas. EMC has never broken it's long term support line, same with most of the others including the indexes. THIS TIME IS DIFFERENT. <ggg> I am expecting a bounce soon and I still say the DOW will join the party sometime, it is just a matter of when. MMM holding up just because some ex-GE exec is going to turn things around is hog wash. Recessions hit everyone ESPECIALLY manufacturing. Good Luck, Lee