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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 (6896)	5/3/2001 9:15:56 AM
From: Jan Crawley	Read Replies (2) \| Respond to of 52237

Hi Dennis, Tons of short-covering yesterday, to be sure. Example: CSCO's short interest was 64M on 3/15, 92M on 4/15 - 28M more shares were shorted while CSCO was trading around $14 to $18. Brcd's short interest was 7M on 3/15 and 14M on 4/15 - short interest doubled while Brcd was trading below $20/in the low $20s. Are they fininishing covering yet?

To: dennis michael patterson who wrote (6896)	5/3/2001 11:38:25 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 52237

Unbelievable. That article says it all. I am still amazed with the buying that is still going on though and the pits knowing the script in advance. I am about to quit trading and just buy CDs. I bought my puts on MMM when it was over 118 1/2 last week. Today it got down to 115.3 and the put never got to break even for me much less a profit. Now it is rallying for some unknown reason. Must be this..... Thursday May 3 10:26 AM ET NAPM: Service-Sector Activity Tumbles NEW YORK (Reuters) - A gauge of U.S. service sector activity tumbled in April, suggesting vast swathes of the U.S. economy which have remained resilient during a recession in the manufacturing sector are now contracting. The National Association of Purchasing Management (NAPM) on Thursday said its monthly non-manufacturing index fell to 47.1 in April from 50.3 in March -- the lowest reading in the survey's four-year history. Economists surveyed by Reuters expected an April reading of 50.3. A number below 50 indicates contracting activity in sectors such as transportation, legal services, real estate, construction and business services. The employment index tumbled to 46.7 in April from 49.4 in March, the second straight month the survey has suggested job losses in the service sector. The government on Friday releases its key employment report for April. The new orders component fell to 45.9 from 52.2 in March, suggesting further weakness in the pipeline. The prices paid component remained flat at 59.5 in April. dailynews.yahoo.com =============================== dawgfan - sorry I am not a bonds person. Those guys are waaay too smart for me to try and trade against them. Then again, at least the why of what they do makes sense unlike this market. ===================== Unlike AS, I don't wait to see what the market is doing then say Oh yeah, I switched positions over night. Rear view mirror investing is always profitable. duh! Chris! Ban, Ban, Ban!!!! ================================= From last night on our site........... By Lee_Lichterman on Thursday, May 03, 2001 - 12:03 am: Edit Charts updated. Plenty of sell signals starting to pop up in non tech as expected and a few short term over bought signals starting to show up in tech. My main concern is in our indicator. We are at sell off trigger values now unless there is a new trend line I am missing. Don called while I was asleep so maybe he has found something I missed. If not, then we are in a danger zone for sharper selling risk now. GLOBEX trigger is only slightly biased negative with fair value around plus one. I will likely close my short on MMM tomorrow since the short term cycle is almost to an over sold level already. I took profits in PG longs already. I am not playing this pullback yet on the short side in tech. Just watching for now. Good Luck, Lee ======== .......Note the pop, drop and rally scenario I pointed to a while back and look at those charts. After the rally that lasted a month or two, they almost always went back down and retested or came close to retesting the lows before SLOWLY climbing back up and then going on their extended sideways grinds. My view is we are still doing a corrective wave 4 rally in a bear market and wave 5 is still to come sometime down the road. Only after the FA improves will we resume our steady more lasting climbs. ======= From this morning..... Thursday May 3, 8:54 am Eastern Time Jobless Claims Data Highest Since Oct '92 WASHINGTON (Reuters) - New U.S. unemployment applications jumped unexpectedly last week, while a longer-term barometer of labor trends shot to its highest since the United States was recovering from a brief recession in the early 1990s, a government report showed on Thursday. First-time jobless claims, which gives an early reading on the resilience of the labor market, rose 9,000 to 421,000 in the week ended April 28 from a revised 412,000 in the prior week, the Labor Department said. Private economists surveyed by Reuters had expected claims to drop to 400,000. The figure was at its highest since 428,000 in the week of March 23, 1996, when members of the United Auto Workers union went on strike against General Motors Corp. The closely watched four-week moving average for the April 28 week rose for the fifth straight week to 404,500 from 395,250 in the prior week, and its highest since 406,750 in the week of Oct.10, 1992. Economists consider the four-week moving average a more reliable indicator of job market trends because it irons out weekly fluctuations. biz.yahoo.com