AMIGOS INVITATIONAL YEEHAW PORTFOLIO Message Board

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Strategies & Market Trends : AMIGOS INVITATIONAL YEEHAW PORTFOLIO

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To: James Strauss who wrote (963)	8/10/1999 4:54:00 PM
From: j g cordes	Read Replies (1) of 1316

End of Day.. SP 1254 area still a 1/3 retrace of Oct/July run, which would be a typical and constructive pullback. We got to within 17 points today during a worrisome treasury refunding. The major averages don't show the carnage happening in some internet stocks, most actually.. look for the converse when they finally turn.. at least a quick 1/3 of drop retrace to the upside, then a stall. Last week's rally attempts were met with end of day selling So far, this week, selling all day long has a rally end of day Either way you cut it we're still on a slippery slope.. I'd hold cash unless one wants to take small positions to try and time a turn. I'm looking to sell some puts on stocks that have shown good strength in falling sectors.

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