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

To: Electric who wrote (13995)	8/5/1998 4:59:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

I find it incredible that people are calling this close a good sign. It was a fake rally IMO and the funds just used up some of their rare cash to make it happen. What I think we just witnessed is the breaking point of the market. Not that prior to that buy program kicking in, almost all the stocks on my screen violated important support levels and started collapsing. As I know you were in DELL, it didn't make your heart skip a few beats to see DELL fall from the nice orderly tick downs of the last few weeks bouncing off various supports and falling 1/4 point at a time to suddenly see it fall in a straight line from 102 to 98? Almost all the stocks I watch did this during the 3:00 to 3:30 time frame. I think the market has just found the point that if they push it past that level, the meltdown will occur. Now the two key questions are do they want to push it there again and can they bring it back next time like they did today. If they break the back of the market again, CPR may not work next time. It is time to be extremely cautious IMO and even more so than the last few days for we have now seen the edge of the cliff and put one foot over it. If we put the other foot there, gravity will perform it's job.