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

To: Chris who wrote (13758)	8/4/1998 11:39:00 AM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

It looks like the market is attempting to pull back from its decline yet another time today. This is making for an unusually volatile decline. My thinking is that one the market moves through 8750 and remains below this value, the market will gather downward momentum which should shake out the public speculator in the Internet stocks. We are seeing higher than normal volume, and the volume pattern is different today. We are seeing uncharacteristic volume this time of day. Normally the volume would be tapering off by now. Bob Graham

To: Chris who wrote (13758)	8/4/1998 12:26:00 PM
From: Robert Graham	Respond to of 42787

If this bounce develops into an intraday trend, it is not the "true" trend since it will happen during the lunch period. Any "true" trend will likely develop after 1:30 P.M. I am currently working on figuring out the market's time schedule, so I may be a bit off here. The way the market has been trading is making this difficult because what I have been seeing I know is not normal. DELL is testing a weak intraday support right now. It is down 1 point. CSCO is also testing intraday support which is also yesterday's close. It looks like the market is not performing on its bounce. The longer the market does nothing at this point, the more likely a continued sell off will happen. The intraday technicals are pointing to a down bias at this point. Bob Graham

To: Chris who wrote (13758)	8/4/1998 12:50:00 PM
From: NickSE	Respond to of 42787

Good call. Not even a whimper as it dropped through too. How soon before we breach 8000, end of the month???

To: Chris who wrote (13758)	8/4/1998 1:00:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 42787

I think it is a bit premature for those calling for 8000 by the end of the month. We are tending to treat intraday data the same as end of day data here. They are not the same. This is particularly true in this volatile market. The market bias is definitely downward as we have been seeing. But an appreciation of timing is important here for the trader. IMO it will be important to see what the market closes out at today. But considering the near term evolution of this market, I would not be surprised if lower lows are made this week. Bob Graham