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

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To: Dr. Jeff who wrote (101668)5/11/2001 9:57:35 PM
From: bill meehan  Read Replies (1) of 436258
 
Thanks, Dr. J. I've pared back all tech holdings, except for selling all the BRCM bought on 4/4, and the same holds true for retailers in my portfolio. Raised cash and have been buying puts on mega-cap techs, SMH and Qs. Don't think we'll see 2350 for some time and I'm looking for at least a decline to appx 1180 on the SPX, 1980 on the COMP and 1715 on the NDX. Expecting a relatively wide trading range until Q4 (early Oct?) with the COMP potentially running to the 2900 area and the SPX only able to get to the 1400 level. I've little doubt that the Fed will cut 50bps. What choice does he have now? Haven't you heard? Inflation is dead. <g>
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