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Biotech / Medical : American Bio Medica (ABMC) drug test solution -taking off!
ABMC 0.0400+22.7%Jan 10 4:00 PM EST
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To: Skywatcher who wrote (589)4/14/2000 9:45:00 AM
From: John Anderfuren  Read Replies (3) of 629
 
It looks like it will be a few weeks to shake out those who are margin junkies and hit a near term bottom. Tech numbers should help those specific stocks, but not the fear in the broader market. I moved my non trading accounts to 50% cash last friday and should have done so a few weeks earlier, like the day after we talked last. Banks and abt leaps doing well, but I never got into puts and should have used those more. My suggestion is to go to cash with nets out on tech leaps. Just like you did with csco, before, you can do it again. The tech's are still the economy and the best use of funds is not to hold on to stocks on their way down, but to go to cash and net the best of the best as leaps for 2002. Don't hem and haw, just do. If the market turns on a dime even leaps bought on the same day you sell will pay very well. The best of the best = the wired idex. The mutual fund using this is guinness flight - wiredindex. This has had been down less than 3% while the nasd has droped 25% This is the parking account I use when I'm not going directly to cash. This index has the highest no. of 2002 leaps you should be useing as a basis for your leap index for 2002. Remember it only takes one 10 banger at 10 g's to take you back up. Give me a ring if I can be of any help.
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