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

To: Lee Lichterman III who wrote (7540)	5/17/2001 1:37:29 AM
From: Berney	Read Replies (2) \| Respond to of 52237

Being an FA dude at heart, I share your concerns. As I mentioned to AS recently, through no fault of his own, the TA reflects that he may be right. Hard to ignore. I agree with you, that any reasonable analysis of AMAT, shows the price action today was obscene; but do we ignore that it happened. I also agree with you that when we get to earnings warning season, it may well be shown that the emperor has no clothes. The problem is between here and there, and, I'm sure you share this concern. I did not face this problem well in the fourth quarter of '99, when Fed liquidity caused massive problems to my FA view. From a TA perspective, the breakout of the diamond pattern on the Dow just cannot be ignored; that pattern reflects a potential 2,000 point move. Today I went from 59% to 90% cash, and am reconsidering this decision! Berney