Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bobby beara who wrote (3682)	1/11/1999 8:21:00 PM
From: Lee Lichterman III	Respond to of 99985

I am mostly on the sidelines. Wanted to get a pullback on DELL to the 76 area but the train left without me. I don't think this run is over yet. I am as bearish long term as anyone but I went through all my charts over the weekend trying to make sense of this mess. I drew some forks going back a couple years and all of a sudden saw that we are no where near a true top other than the NASDAQ which is over a 2 year trendline. The DOW, OEX, SPX etc all have plenty of room. Heck the DOW alone could go to 12K before it would be a true mortgage the house and short it. I am watching that utility index pretty hard since the last couple selloffs had the big money moving their money there to catch the dividends in case the bear decided to stay a while. It is falling pretty hard and I don't see a bottom yet time wise although I do have a target of about 255 on the S&P untility index. All my charts are new and with the new look I don't trust my lines completely yet. I am watching my favorite Semi short tagets close though and am almost ready to start buying puts with both hands. When INTC and RMBS report and hype them all up a little more, I will start filling my garage with MU puts. <g> A few more weeks of this then the shooting should start again in Iraq and I suspect this round will be a bit more serious. Maybe the loud noise of the bombs will wake this market up to the funny mentals and the bubble can either burst or let out some air. Wish I had some glue so I could belly up and buy things like CMGI, SHRP, YHOO but my concience just won't let me do it. <ng> Good Luck, Lee