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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 (20836)	10/4/2001 5:42:25 PM
From: dennis michael patterson	Read Replies (3) \| Respond to of 52237

Distribution Chris Scumacher TheSTreet.Com The Distribution Phase 10/04/01 4:22 PM ET Human Genome (HGSI:Nasdaq) was closed out at the end of the session at $32.02 for a scalp only. I'm not one to hold many stocks overnight, especially traditionally illiquid ones that I don't have a strong cushion in. So I am taking no positions home overnight with me. Tomorrow morning we'll see the employment figures, and given that our claims spiked today, the numbers could easily show 5% unemployment, which is the top of the range for what I've been predicting for the last three months. Today marked the distribution phase that I talked about this morning during the "trend" talk post. Many asked me today why I thought they would start the distribution phase now, after a great day yesterday. What we are failing to realize is that we retraced more than 1,000 points in the Dow before marking yesterday's spike. Was I 100% sure we'd get distribution today? No, but the principles of tape reading suggest that it was a higher probability. Distribution in this phase, after a sharp spike, isn't so much marked by a strong selling that leads to new lows. Rather, distribution in this case is large volume on the buy side that doesn't lead to higher prices. This is the difference between distribution by smart money vs. selling by the public. The latter part of today was marked by public selling and smart money wasn't willing to step up and support it, so we had a downtrend into the close that I expected once we broke below NDX 1280. So for tomorrow, I'm going to be a bit more cautious on the long side in the early going and watch how strong buy-side volume is sold into by larger capital bases. Have a great evening. No positions.

To: Paul Shread who wrote (20836)	10/4/2001 5:45:58 PM
From: stan_hughes	Respond to of 52237

Dateline New York - October 5, 2001 New 4th financial statement adopted Under the guidance of federal banking authorities who shall go nameless but not unknown, FASB and the SEC have jointly agreed upon the adoption of a new standardized reporting format replacing the traditional 3 statement GAAP reporting with a new flagship report, the "pro forma" 4th statement, whereby a company's financial condition is believed to be best depicted by reporting sales before deducting cost of sales or any expenses. Balance sheets, income statements, and statements of cash flow will no longer be required. Furthermore, the simplicity of the new statement also precludes the necessity of having to provide any notes. Wall Street firm analysts immediately established a normalized trading range for securities using this new economy approach at 12-15. The analysts interviewed cited the 12-15 ratio as a conservative level completely free of the excesses of early 2000 when the ratio on individual stocks frequently approached 40 and beyond. Company treasurers were ecstatic at the announcement. According to a senior Bloatcom finance VP, "We can now eliminate the cost of employing a small army of clerks that do nothing other than track silly details. This will really streamline the reporting process and contribute to earnings momentum going forward." Spokespersons for investor groups were not available for comment, although it is generally believed they will go along with the changes like sheep like they always do.