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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: epicure who wrote (1489)	12/12/1998 1:27:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

X, you really need to learn to speak your mind instead of keeping it bottled up. <ggg> When I was updating my charts last night, I noticed something subtle along the lines of the scans that were run Thursday night by someone else (not sure if it was Haim or Monty or ...) But anyway, I actively track about 50 stocks and I would say that about 30 of them have now pulled back considerably one at a time over the last couple of weeks yet did so quietly so that the whole effect was not very noticable. Yesterday's pop up before the close may be the return of the stealth pullback we saw during the last correction. Remember we would always seem to end Friday's nearly even despite being highly negative all day. This way Joe Sixpack would not realize his Fund was dropping again until it was too late. Friday's guest market monitor on NBR was a fund manager who I normally respect for her calls. Yet every single sector she was bullish on was a joke. The bleakest near term earnings projections including PG only 2 days after they warned. I think the funds are looking to unload. I have really got a kick out of the move in the semi's move the last few weeks. No one I know with any intelligence thought the problems were over for MU yet the price doubled in the last month while stories floated on the wires how the semis were going to turn the world around. Surprise (NOT) the wires spit out a story yesterday saying the semi sector's growth looked bad again. DUH!!! I have a feeling that this coming week will be the last chance to get some shorts in place before the following Monday. Options expiry will keep the market somewhat under control IMO but then it is open season again. This should be about a 2 week pullback then we can have a X-mas rally for the end of year run. I doubt my second H&S will pan out but the first one still could have merit and I am looking for that fall to 8450 within 2 weeks. (measuring from neckline to top of head and projecting it downward from the neckline) Once that is complete, the companies making lowered earnings will move us back up until the spring crash that is both merited based on earnings and the calander affect in techs (never hold techs from May to October) BWTHDIK Lee