MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

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Dec 26 4:00 PM EST

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To: mishedlo who wrote (80915)	7/27/2001 11:48:17 PM
From: Greg Jung	Read Replies (1) of 99985

Mish I share your bad timing luck by getting shorter on Thusday AM, I'm using more volatile instrument than QQQ. The soxx & NDX are near top of their recent range and if they had overshot today I was going to cover. There was no follow-through to speak of, but sheesh they are sure hot and heavy trying to get an end-of-month ramp. My buy stop didn't execute but it came close on a spike. Another shorting instrument are the rydex funds ryvyx-velocity and ryvnx-venture. I started the venture 100 wednesday just in time for 5% drop if NDX shoots beyond 1700 I will start an offsetting velocity fund - these are 2/NDX and 2*NDX. If you figure the market will make a big move one way or another (in a long time period) you can use these for a straddle they each have equal & opposite % reactions so the $ in the winning fund increases faster than the $ in the losing fund. - Anyway it can mark time until the vestment period is past in the Schwab group, and you then have no-cost transaction vehicle in IRA for market direction bets. The straddle works best if you take it off when a clear winner has been established: the total reverses quickly on a market reversal.

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