Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (65662)	5/3/2000 1:02:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

I am 65% cash now and happy Made a great pop on the NASDQ bounce here - locked in virtually all of it - NOTHING is showing strength. Imho - the market is not in the process of pricing in.50 - it is in the process of sorting out those "betting" that it will be .25 and not .50 with more to come... That the Kings of Tech are melting - and their trading pattern on the tape looks like people averaging down - then selling when they get taken down further - I am basically on the sidelines. I made the most money in a short period of time that I ever have. Pigs get Fat - Hogs get slaughtered. I am waiting for a big meltoff to leverage into again. I think one is coming... If not; I latch on to the majors - leverage a nice secure move and rotate back into trading. Way too much risk for little potential reward thru the Fed Meeting. Cash is King - I'm on the sidelines - waiting for much, much cheaper buy ins - 20%-30% lower in tech & 15%ish here. We shall see...

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