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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: William H Huebl who wrote (1383)10/18/1999 4:48:00 PM
From: James F. Hopkins  Read Replies (1) of 2103
 
HI Bill; It seems to be holding its own for now but I'm not sure
it's up enough to break the down trend, I'd like to see it get
back to 98. I was glad to see it held at 97, but I'm still cautious
on it and afraid it could slip to 96.
You notice how the market can't fight it for very long.
I played it safe and flipped my DIA and XLF for a small profit..
( it was at least better than being short today ) ..while I
expected the QQQ to fall some more I couldn't get shares of
her to short and the puts had to much premo on them.
For the most part other than RTN.a I'm now cash except I bought
1000 shares of PPT today at 6-9/16.
I think most of the late rally ( if I can call it that)
was shorts taking profits.
The plung we had Friday just didn't seem strong enough to
call capitulation but it might set up a trading range, and
a rally..but if it does I doubt it takes us to new highs
until we get a really big spike down.
Jim
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