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

To: American Spirit who wrote (7253)	5/8/2001 3:23:16 PM
From: Lee Lichterman III	Respond to of 52237

Anything is possible and I actually like your 15th date since that is about 6 weeks from the last low which fits in with the general time frame for double bottoms however this rally is anything but healthy. The NYSE TRIN has been above 1.3 most of the day. That is saying that the big money is distributing to the sheeple. Anytime the TICK drops below a plus 200, the DOW drops like a rock and they have to ramp the heavy weights real quick to goose it back up. Look at right now, the TRIN is 1.48 and it is taking a positive TICK of 677 just to hold it even. Real bull rallies move up a lot easier than this. The only advances we have been able to make since the Friday ramp have been gap ups. Last the DOW is forming a nasty looking bear flag off of this morning's drop. Anything is possible but the way everything has been coiling for a major move it could jump big and it could go either way. It is bullish the market can move up on so much bad news but I learned long ago to never under estimate the stupidity of mankind when in groups. At the end of the 70s gas crisis, who would have believed you had you told them that America would be driving the biggest gas hogging polluting SUVs they could get and pay as much as a house cost back then for them? Dave - One thing I noticed last night when looking back over the COT report is DOW longs increased in the commercials. They are short the SPX and NDX but are long the DOW. Good Luck, Lee