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

To: Paul Shread who wrote (20379)	9/29/2001 11:10:34 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 52237

I am trying to make sense of this drop in shorts. This could be a normal covering and slow attempt to get long but they dropped the number of total contracts decreasing longs and shorts thus they are reducing their exposure over all. Is this just uncertainty? I have to wonder if there is something else at play. Call me morbid or what you want but when I was watching the WTC disaster on TV and seeing all those papers flying around, I told my wife that there were people , including me, that would love to see those pieces of paper as they probably had the positions and plans of the top wall street firms on them since many if not most had offices there. I wonder if the sudden drop in positions by the commercials are being closed since there is a risk that large positions by specific firms could become general knowledge as these papers are found. I saw on CNN where people were taking them as souvineers. How long before someone looks at one and sees that Goldman Sachs had Abbey screaming buy and "we are over weight tech" yet the sheet of paper says soon as they roll her out on CNBC, short 5 million shares of various tech stocks along with NDX futures. -gggggg- The COT report shows they are lowering exposure but at the same time getting less short. Either we are about to do another 4 April squirt up or they are just trying to get flat since their hands may now be open to the public or it is just uncertainty and they are pulling back to reassess. Heck if I know for sure which of the three. The non tech stuff looked the best on my charts and the NASDAQ stuff still isn't real pretty so if they are about to ramp tech, it will have me scratching my head. The only bullish signs I see is the NDX sitting on my mid tine of the 1994 fork. Most other stuff however is just floating in no man's land. Each sector has taken it's turn behind the wood shed with RFMD and BRCD finally taking their turns this week. About the only sectors and stocks left now are QCOM type stuff. I still think we don't hit a lasting bottom until QCOM is down around 18 bucks a share. Every stock that seemed immune has eventually gave into the selling rotation. MU finally broke which was a relief as I couldn't understand what was holding that POS up. Now if QCOM would just get to a reasonable level, we might be able to base and eventually get a lasting rally going. I have been noticing that after talking about it for months, others are finally moving into dividend stocks. REITs and trusts are finally back in favor which is a good sign. SOme higher yielding banks are being bought also. I am still seeing a lot of flight to safety however in the food stocks. Who would have though QUIZ would be a top performer this year and why didn't I buy CAKE two days ago? -gggg- Good Luck, Lee