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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 (19005)	1/24/1999 11:58:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

Well, I have just finished round one of going through all my charts and I am starting to get even more bearish than before. I don't see much that looks like a worth while buy, I saw a lot that could drop although they mostly had supports nearby. Either this is the bottom because I am now in the short corner or else we haven't seen anything yet. I ran through the financials and with the exception aof a few like PVN, they all look like crud. I ran through the smaller techs and they are all falling, software with the exception of MSFT looks bad also. Even SAPE looked like it could be good for 10 points down. Only sectors I saw that were still trying to hold on were telecom and Semi and semi equips and many of them are finally falling. Telecom is mixed with some looking like decent longs such as FON (one of my picks 2 weeks ago so first part of up move is past history) while others like T and NOK.A look poised to drop in the near future. Semis are where I see the action right now. If the market bounces, I always hate MU and am mad I missed the spike to 78 before because I would have shorted there. I think it was electric that tracked FLEX, I would love some feedback on this one because the chart is saying short me but I seem to recall someone here liked it long so if it was him, tell me why I shouldn't short it here. My favorite target (not ready to post in the open yet on) I do plan on jumping on Monday if possible. I just hope we don't gap down or have a new rally begin. While I too thought we were going up soon, after looking at the charts, I see more stuff being sold behind the scenes than the indexes show. Of course I could change my mind in a second Monday but I just hope any urge to go long is quickly followed by shock therapy because I think long will be wrong for the next couple of months at least. The big drop may hold off until DELL reports in mid month, but I just don't see a whole lot ready to go up soon. (takes horns off and puts claws on) Good Luck, Lee