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

To: Robert Graham who wrote (7402)	3/27/1998 12:16:00 PM
From: Robert Graham	Respond to of 42787

Interesting...it looks like when NASDAQ pulled pack, ADBE retreated giving up most of its gains. I was looking for a pullback due to the quality of buying and the outright speculation involved with the price rocketing on bad news, but not this quickly. Evidenlty stocks that go up like this with nothings really motivating the buying can just as quickly turn around. All the market with its tech leadership has to do is drop the following day. I wonder how much of this price gain was helped on by the MMs. The type of trading yesterday afternoon where most of the gains happened in ADBE did not appear to support the price action, but I still need to learn more about reading the tape in order to make that type of judgement. Just shows that my very short term day-to-day analysis of stock needs improvement. Even though the technicals were improving the last few days before the breakout, I knew it did not support the type of action that was demonstrated by ADBE. However I knew that these trends motivated by speculation can last longer, but that was in a different type of market. This market definitely has been changing. Any comments? Bob Graham

To: Robert Graham who wrote (7402)	3/27/1998 12:58:00 PM
From: Judy	Read Replies (2) \| Respond to of 42787

Bob, quite a response ... so what's the bottom line? Just kidding. ADBE, I exited yesterday when the blocks came rushing in ... Message 3850264 Had earnings and forward guidance been positive, the fundies would be tripping over themselves buying ADBE on program buys and pushing it to new highs. Such was not the case. Today is not the time to initiate a position trade in ADBE, let the fundies who got caught at the top figure out their game plan first. Stock must stay above 43-44 to remain bullish ... the fundies may find better opportunities for their money in the near-term when other companies report. Would be interesting to see what Chris' weekly signals say now.