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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 (17319)	11/3/1998 8:45:00 AM
From: Lee Lichterman III	Respond to of 42787

I know the fundamentals stink, you know the fundies stink but do the semi stocks know they stink? This last few weeks are confusing for sure. The interest rate cut didn't solve all our problems, few think we will get another cut the 17th when just a little while ago the talking heads were saying another cut was already priced into the market yet stocks with lousy earnings are leading this charge up so far. At the same time, the internals of the market look better than they have for months as for all stocks participating and not just the nifty fifties. I may move into some IBM or MU puts soon to hedge my longs. AMAT finally turned but now I am a couple points too late there. I still think we have a couple days of up before we start down and would like to see the extent of the weakness first. Will a Republican landslide turn the market down on fears of impeachment procedings or will a Democratic win scare the market into inflation worries? Seems we can't go a couple weeks without some sort of impending news that could affect the market in some way. I guess I will keep my longs right now but start paring them back going into the end of the week. Hopefully we can get just a few more points to the upside first before we turn. I would love to see that we are back in that channel on the OEX that I have drawn so we could anticipate the turns ahead of time. Good Luck, Lee