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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (84583)3/23/2001 10:18:00 AM
From: Perspective  Read Replies (2) of 436258
 
Think like a Clown. I believe this is one of those 20-day rallies, and I believe we just nick overhead resistance - horizontally and on the Sept. TL. This should produce an incredible shorting opportunity next month.

I think Naz 2300 within the next few weeks is likely, more likely than BK, and have adjusted short position to 25% to ride it out should it occur. That is my minimum short position in a bear market. My unhedged exposure is 50% Dow-type stocks, 50% still-ridiculously-overvalued Naz100 stuff.

I'm going to fight the urge to go Clown long here, and just keep trimming the short position to 25%.

I don't think this ends up as an island reversal. This market is due for a rally, and we finally got some Dow giving - with plenty of Naz relative strength - to make it possible.

There are lots of inexperienced shorts out there that are probably learning their first lessons about the mechanics of equity management in short-selling. This rally could get violent.

BC
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