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

To: Chris who wrote (5059)	1/22/1998 10:40:00 AM
From: Debra Orlow	Read Replies (4) \| Respond to of 42787

..." But the best technicians are in disarray." because the technicals are on the fence, alot of pulling between the bears and the bulls is going on. naz touched 50dma from above, bounced off by a point, now we sit here wondering which way it will go. the dow is sub-50dma and only needs to go -116 in order to fall sub-200dma. the macro trading environment has temporarily turned into a micro. I will sit on the sidelines until it is clear. INTC and MU have been showing very bullish signs lately, but they have to follow thru.

To: Chris who wrote (5059)	1/22/1998 12:53:00 PM
From: Robert Graham	Respond to of 42787

The Asian markets seem to lead the open of our markets. This can lead to counter intraday trends later in the day which is magnified by program trading. This is definitely a trader's market. I think this volitility is scaring some of the longer term investors that have bene waiting on the side. This may mean that they may come in late into the beginning of a new market uptrend. Particularily with all the disappointments of failed breakouts above 8000 and the "false starts" that have been provided to them by the volitility of the market, I think they will take a more conservative entry back into the market. Perhaps the better market days are fueled by movement of the big money back into the stock market as evidenced recently by periods where the bond market is going down while the stock market is moving up. But I do not see the fundies agressively accumulating stock yet. Perhaps they are carefully accumulating by their attempts to time their purchases in this volitile market. Those performance minded funds cannot just sit on their cash. The cash must be buring a hole in their pockets. I see the NASDAQ did not give up as much of its gains as the DJIA did. I think this is actually a good indication. Some thoughts to ponder on. Bob Graham