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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 (16669)	10/15/1998 7:58:00 PM
From: HighTech	Read Replies (1) \| Respond to of 42787

I'm mainly in cash today. :-( I'm thinking about going long maybe 50% just in case the irrational exuberance exuberates, but will scale out over the next few days and the other 50% will be dry and ready if the alternative occurs. Tough market. Mr. Market is one bad ass! I'm sticking with JF because you've made a lot of money following his major calls. Good Luck professor, HiTech

To: dennis michael patterson who wrote (16669)	10/15/1998 8:03:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 42787

I agree. I guess my charts are going to be barely useful for awhile until we can sort out the short covering frenzy from the real stocks that will benefit. I haven't looked at my charts yet but I suspect COF, PVN and other credit card banks will be good call plays. If the DOW ceiling Don is calling is to hold then IBM may be a good put candidate aftter earnings bounce is over with (they announce Monday). With them threatening to make a new high, they could drop extra hard when the fall does come. I am just getting started tonight but already I am reading that this rally could extend 2-3 weeks possibly. I went from even on my puts from yesterday to down 33% in the time it took me to get through to Waterhouse so I just held them and will hope for a pullback next week. It is only a small position as I wasn't planning on going full short until Tomorrow but it still hurts. I hope you weren't holding any of those OEX puts that have been treating you well this week. With the strong move today and the affects of the past 3 up days, we may be able to gauge the market short term by watching the new high low ratio. I saw stocks with zero FA move up on the rate cut news so new lows should stay close to 100 or under if this is really a genuine up move. If they start creeping back in the 200-300 range, we should have some warning. Good Luck, Lee