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Strategies & Market Trends : Steve's Channelling Thread

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To: rfisher who wrote (2593)	6/21/2000 10:35:00 AM
From: Zeev Hed	Read Replies (1) of 30051

3400 is still a possibility (if 3800 is breached), but we have set a number of new higher lows and higher highs, the market technical underpinnings in the "late June decline" (which happened mostly in the Dow not the NAZ) are getting stronger, except the lack of "fear (as indicated by the low VIX). I am lowering cash gradually over the next 10 days (to July 1st or so) to 30% and after that I'll go to only 10% cash. I added today, SSTI at $99-3/4, SNDK at $72-7/8, CCRD at $38-7/8 and QCOM at $62.5. I missed RMBS (that is becoming a habit). I had an order at $87-3/4 (expecting a "swoon" to possibly $86.5), I still have that $87-3/4 in. That put ne roughly at 50% cash and decreasing. Zeev PS, note that now the tactic I am using is changing, I plan to stick with most for few months, unless a get a sudden run like in SSTI, which I may sell if I can get 15% or so rapidly (like selling at $114 plus today).

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