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

To: Robert Graham who wrote (13113)	7/25/1998 3:07:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Hey Bob, that hurts. You just described my latest mistake to a tee. My chart said don't buy, my gut said don't buy, but I was missing out on the rally and said. "what the heck". Now I'm bleeding to death. But if I survive, the lesson will stay fresh, or at least I can hope. <ggg>

To: Robert Graham who wrote (13113)	7/26/1998 4:22:00 AM
From: Thomas C (Hijacked)	Read Replies (1) \| Respond to of 42787

Robert, I couldn't agree with you more on your comments...I think IMO I can sum it up in a few concepts.. That is the psychological aspect in which PRICE is the leader. The huge massive crowds of people from all over the world focus on PRICE, it is their leader. Millions of eyes become focused on price. And so when the leadership fails, panic sets in and massive amounts of selling start to occur. The signs of the loss of leadership have been all over the place. The best measure of leadership New Highs/New Lows clearly indicates that this market has lost the leaders of the pack and are now scrambling for direction. The #New Highs figure is analogus to Generals leading the way up the hill with rank and file soldiers behind them...without that leadership the soldiers will start to change momentum and scramble back in the other direction. I think as long as this market does not have the leaders to guide the way, the army will start becoming chaotic, lose confidence and run for the hills.. Tom