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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Voltaire who wrote (26195)12/20/2000 9:19:41 AM
From: locke_1  Read Replies (1) of 65232
 
Morning Maestro,

Agreed that we will have an opportunity fairly soon, the question is when. I'm sorta hanging out, with no intentions of jumping in right now, I mean why try to catch a falling knife. I want to see a day with massive volume - like 3 bill or something on the Naz, and a key reversal with a follow through the next day. Am not concerned about missing out on the bottom or whatever... like who cares about missing a few points...

Bought a lot in the last dive - some of those buys are even profitable at the moment - like RMBS at 38 - but have a feeling that we will be seeing those levels again and this time intend to watch a bit more closely and be patient...

Agree with JW that the Fed managed the brake in a ham fisted way, and crashed the car at the same time, and I want to see what they are going to do next - I don't trust them much but since I can't do much about it, I intend to play along with them - they start cutting rates, I start buying - its as simple as that... (might buy something before that, but only on the key reversal scenario - and then only 1/3rd at a time - been burnt way too badly these last few months on key reversals to be too adventurous at this point...*grin*)

Regards as always...
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