Les Horowitz,
That is a lot of data opportunities for a short Thanksgiving week considering the Nasdaq parabolics. I tend to agree with the Don Hays 11-19 newsletter, the wolves are howling but they are not other market prognosticators. They are the ghosts of dead bears from Halloween, intent on coming back to haunt the bulls for Christmas. The other day the BK thread had two posts by midafternoon, capitulation?
Perhaps I am just projecting out a bad day Friday:
"here is something to ponder: Today, 11/19/1999, will be the last day that has all odd digits in its date until 1/1/3111! We have seen the last "Odd-Digit Day" in our lifetime and for about 37 more generations to come, one source reports."
I knew there was something ODD about Friday, spent most of the day on hold trying to get brokerage account functioning. Things sure have changed at Waterhouse, last time I had any problems it was fixed in minutes, not hours, and I got to talk to a real person right away!
Have also had trouble getting accounts straight at various others lately, such as AT&T (now I call it All Time & Trouble and gave them the boot). All of which got me to thinking, if there is so much as a shudder for Y2K, this could be real hell! I work for a company that has had problems implementing a Y2K fix, nothing dramatic but long drawn out small problems that effect the bottom line even though business is great (we call that fix the Stupid Ass Program).
Decided I needed a break from this. Currently I am ahead, so I sold sold sold. From near total margin to 70% cash, holding only a couple of oil stocks and a small position (nice basis!) in AEM a gold stock.
Caution, this is probably a stupid move, but I intend to enjoy the holidays anyway, without any concerns.
I do plan on one play for the next month or two. Which will require cash anyway, I will short the OEX at, hopefully, the appropriate time.
A few days or hours, in and out, if the opportunity arises, will not distract too much from my market vacation.
Best of luck,
Roebear |
