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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: chic_hearne who wrote (70894)	2/23/2001 7:18:52 PM
From: bill meehan	Read Replies (1) of 436258

Well, chic. I feel better now after adding some more QQQ calls just before 2:00. And, you're right about my positions. I had virtually no tech exposure and then bought in small increments, still with most assets invested in value plays, QQQ puts and a good deal of cash. I got to about 140% long coming into the year in my trading account and then began selling after I returned from the Super Bowl weekend that Thur. when I got sell signals on the COMP, NDX and SPX simultaneously. Right now I have very small positions in tech and have even trimmed many value plays that had very large runs, since the SVX along with virtually every other subindex have also broken down. The only trading position I had was short QQQs and I covered some on Wed and the rest yesterday morning. I bot QQQ calls yesterday afternoon and added more this afternoon--that's my only trading position now. I have limited flexibility due to company policy, so I don't want to get very aggressive on the short side again until the Fed Head cuts rates. Hope this makes sense--I've got a screaming headache and can't swig any Bud because I'm on antibiotics.

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