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Strategies & Market Trends : Steve's Channelling Thread

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To: Steve Lee who started this subject	10/23/2001 11:32:36 PM
From: Steve Lee	of 30051

And now for some good news in the field of human endeavour, technology, learning and cooperation. msnbc.com Loaded up on more puts today. Will continue to do so over the next few days as this distribution continues. Pretty close to the top of this 18 month long downchannel. Current put targets are KKD, TXN, QQQ, MU & WEBX. Aiming to take profits befire end of year, and reload puts when the top of the downchannel is approached on the next rally. Guess I am missing out on the upside between taking short or put profits and reloading. However, it doesn't feel right to buy stocks that I think are overvalued, just on the basis they are going up. I think that may be adding to the problems of the market. I am happy for those who can make money from the bubble, so long as they are not pumpers that are selling while saying "buy". Just prefer the safety cushion of having FA and channel sell points in agreement.

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