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

To: Chris who wrote (14363)	8/10/1998 9:43:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

I too see another down turn coming but for strange reasons. Looking at DELL chart tonight, only reason for bullish flag pattern and crawl upwards may be the earnings expectation. Look at last few days action during its slow crawl up and there has been decreasing volume each day. Not a good sign on an advancing stock. Also, all the wrong issues are going up IMO. MU, INTC, AMAT, SUNW, CPQ, GTW internuts etc seem to be bullet proof all of a sudden. Chip makers, Semi equips, PCs with problems etc. are the strong ones while telecom, software, services etc are down or barely treading water. Seems that the best issues aren't moving and the ones with the greatest risk or bleakest 6 month outlook are the strongest. Call me suspicious but I still think the rally is being fabricated so the big money can unload what they don't want and are ignoring pumping the issues they don't mind holding or are quietly accumulating while they are down. Maybe I am digging too deep but this just doesn't seem right. Also, if you discount the last few minutes on DELL, it would still be under the downward sloping trendline that started around 20 July. To argue with muself, there was an interesting screen run on the tech options thread showing that the number of stocks under their 20DMA is decreasing as well as the 200 DMA but the 20 DMA screen seems to be a faster indicator. Donald Sew was calling for a top tomorrow or Wed as was David Plonk. This is using TA but from a FA point of view, I wonder if the top may be right after DELL announces. It seems to me once DELL is out of the way, there will be no more good news on the horizon and all focus will be back on Asia, Lewinski, and earnings pre-announcements again. I heard tonight the Goldman IPO won't be until October so we have plenty of time to meltdown at the end of August, base in September and then start pre-earnings rallies in October. Oh my gosh, I just deviated from TA. I better quit and get my head back on straight. <ggg>