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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Lee Lichterman III who wrote (41848)2/2/2001 11:47:01 AM
From: Lee Lichterman III  Read Replies (1) of 42787
 
Just covered slightly over half my shorts. Will hold other half until I see how this plays out. 63 on the QQQ seemed like a likely bounce point so covered. I am now slightly hedged long versus short. Holding 2 -1 LEAP calls to shorter term puts.

With the short term so uncertain, I decided to play a bit more conservative. Many direction timers that have good track records are looking for short term up then another tank in a couple months and since my intra day signals said the low was close for a short term bounce, I decided to minimize my exposure. There is still a good chance IMO for another 50 NDX points down or so but I will use my last bit of shorts to play that possibility.

I have to go back to work shortly but thought I would pop my head in and let everyone know I am not as short as I was.

Good Luck,

Lee
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