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

To: Judy who wrote (7774)	4/23/1998 2:22:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Interesting. On this down day in the techs, there appears to be not much evidence of fund accumulation of INTC, even though through periodic 100K blocks there appears to be a fund accumulating this stock. The price gains it has made today has been on the backs of speculators. This also appears to be the case with MSFT, except there has been no 100K type of transactions. So where else has the fund money been going to in the techs? Or are we seeing primarily speculative public money fueling the rise in the techs and NASDAQ? If this is the case, I am more inclined to believe Donald Sew's "blow off" scenario. But then technicalls speaking there is definitely a net accumulation of MSFT and the technicals are improving for INTC. Bob Graham

To: Judy who wrote (7774)	4/23/1998 4:37:00 PM
From: Chris	Read Replies (1) \| Respond to of 42787

hi judy, will not do the fib explanation.. just simply too hard to explain. most of what i did was pure on drawing and by "eye". sorry. nice trade on your dell.

To: Judy who wrote (7774)	4/23/1998 5:00:00 PM
From: Robert Graham	Respond to of 42787

CMGI is definitely one of the more illiquid stocks. I see volume has increased by a high multiple over the past couple months from the start of its "rocket launch". The technicals indicated that this high-flying stock was ready for an imminent pullback. The MM pulled the price back from 92 to 87 under very small volume which eventually ended up the price at 85 before it started back up on increased but still light volume. It looks like a day with a little over 1/2 of the recent daily volume, and the price ended up at about 87. The MM ran into activity at about 88 today. The buying activity of this stock did not justify the runup to its close, so the price action on this stock is not indicative of the buying and selling interest on this stock. This MM is raking the price back and forth in a struggle to make money beyond that of the spread. I see several instances where there can be a couple point increase under nonexistant volume until he runs into some buying to take the stock off his hands which he dipped the price down to collect before the runup. No sign of institutional participation, periods of SNET activity, and for the most part, 100 and 500 share transactions. Bob Graham