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Strategies & Market Trends : Steve's Channelling Thread
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To: Rich1 who wrote (14752)4/19/2001 3:53:41 PM
From: Zeev Hed  Read Replies (3) of 30051
 
Coiuld very well be, on the other hands, we may go back into the "sell the news" mode as well. Right now we have about a 35% bounce from the recent April 4th low on the Naz, and half as much (17%) from the March 22nd low on the Dow (as I suggested at the time, the Dow's performance is only half as good as the Naz, and on the next decline, I would expect the dow to go proportionately lower, or closer to its March 22 nd low). Since I have been very low in cash since the lows, I see no reason to change my current cash heavy stance, if we turn here here, it will rapidly become very ugly, IMHO. I think we are not more than 100 or so additional Nazz points from turning, why should I take the risks except in some value laggards that I believe have been temporarily mistreated?

Zeev

Zeev
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