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

To: dennis michael patterson who wrote (15799)	9/23/1998 5:04:00 PM
From: Electric	Read Replies (3) \| Respond to of 42787

dennis, If the market runs tomorrow and runs on Friday AM, I might join that same position you are in, but at lower basis.. :} What I think will happen tonite is all will discuss the speech and analyize it, and decide if he really is leaning for Tuesday. If the consensus on the floor is no, then we give up all that we gained today. If most feel that he did say now, then we will go up even more tomorrow.. What is interesting is noticing which stocks are nearing highs right now, when the market is still (the Naz and the Dow and the S&P) clearly far from its highs.. MSFT is 4 points from an all time high, YHOO is at a new high (time to put that sucker) DELL closed at an all time high(or right at it), CSCO and WCOM are all right there. That tells me where most feel that the future is, in technology. I cant complain about it either. Futures off a buck.. Yet I bet Japan and HK rock and roll tonite.. P&F'ers were right on the money when they mentioned a few days ago about the bullish turn. It is tough to believe that when it is so cloudy outside..

To: dennis michael patterson who wrote (15799)	9/23/1998 5:07:00 PM
From: Chaz	Read Replies (1) \| Respond to of 42787

Dennis Interesting comment. You said previously today that Favors said we would have a downturn or a retesting of the 7400 level. But you also said Favors said that this was the case UNLESS we closed convincingly above 8100. I think this is pretty convincing, wouldn't you say? Should the next move not be higher vs lower? Chaz

To: dennis michael patterson who wrote (15799)	9/23/1998 5:26:00 PM
From: Judy	Read Replies (1) \| Respond to of 42787

Dennis, I have been using a 2/3 retracement of the current drop as the resistance level for the DOW, or 8200, and will gauge things from there. Analysts like Favors and Acampora really can't say anything more precise until they see the market action and assess their technicals accordingly. Not sure why people on SI are moaning and groaning that these gurus are whistling in the wind until they get all signs confirming. In addition, my sense is that 3Q window dressing is occurring now, hence the strength in big cap bellweathers with consistent earnings like PFE, GE, AOL, CSCO, MSFT, INTC, DELL or stocks that have pre-announced GOOD earnings. Moreover, distribution occurs from intermediate tops, not intermediate bottoms. Refer to my post two weeks ago... Message 5689745