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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 (15847)	9/24/1998 8:56:00 PM
From: The Perfect Hedge	Read Replies (3) \| Respond to of 42787

Dennis baby!- I have no idead what I'm doing..I'm buying puts and selling them next day for breakeven.. I'm trading like a putts......Favors not going short yet huh?I'm long Dec 20 calls on NEM..GO GOLD! B

To: dennis michael patterson who wrote (15847)	9/24/1998 11:15:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

Sorry, I thought I saw someone ask you about AMZN and my chart is acting weird on that one. I think Favors may be right long term and I have to admit, I am a little cloudy short term but my indicators are giving me sell signals going into Wednesday to late next week. TA seems to be backing it up as stochastics are all peaking and some are starting down after today. What scares me the most is the strongest down signals are on the NASDAQ leaders. I have sell signals for next week on DELL, KEA, IBM, CSCO and CTXS. Maybe they are just consolidation signals but if not, the end of next week could get ugly fast. The good news is that I should get buys all lining up for once as most of my stocks were out of sync prior to this. If they all give a buy at the same time, it could prove to be one heck of a rally. Today's drop didn't surprise me and I just hope some of the over ecstatic bulls didn't get hurt. I saw allot of exuberance on SI last night and they didn't want to hear rational thoughts. I am looking at possibly getting puts on IBM, BGEN, CSCO etc for only 3 point plays or so but will see how things start out in the morning first. I have Monday off work so I may just keep my powder dry till then and then trade the OEX Monday and wait to load up puts after the Fed meets Tuesday. The indexes all failed their resistance breech tests but the NASDAQ did hold the support line I had drawn across the base of the previous lows from Feb and June this year. If that falls, I think we're back to the lower range again. Don Sew's stair step theory is going to get interesting too since we are fast approaching the point where it is going to get squeezed on the next cycle up between the base lows of the original head and shoulder formation from June to August, the upward trend line we have been following the last month and the downward trendline from the peaks of July high, last high before the drop in late August and yesterdays high which stopped without violating it. Something is going to have to give and that time frame should be in about 2 weeks. Good Luck Lee