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

To: Chris who wrote (13136)	7/26/1998 12:17:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

You stated that we have to recover this week. Could it wait a week? I am curious as to where the 401K money will go the first week in August. That to me will say where we are headed for the intermediate term. If it goes to bonds and defensive plays, look out. If it goes shopping for bargains in the NASDAQ, the bull will have been rested and ready. Although I would expect 6-8 weeks of consolidation. I just finished doing my weekend charting which is more intense than I have time to do during the week working and all. The weekly charts are bearish showing a substantial bounce unlikely, however it could happen week later. Now I also know that 4 down days SHOULD be followed by some up days so it could be argued either way. The monthly charts however don't indicate the BK has to hit yet. They are showing a pause only and not a substantial top. I also noticed many stocks that were over bought according to stochastics and trendlines in May are not so now. This is all confusing but I am curious if we have 2 weeks to tell the intermediate future and possibly the long term outlook. Don't get me wrong, I plan on reading this next week and using it as much as possible to be on the safe side of things. A chance to sell into a rally is still the safest way to go since I think a large rise in the market is unlikely in the short term. However my point is if it doesn't pan out, do we have maybe one extra week to see if there is a cliff or a hill ahead?