Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (2232)	7/10/1997 1:55:00 AM
From: Tom Trader	of 94695

Good eveinng Bill, Been a while since we chatted. Today I got a sell signal on the S&P futures at the 918 level--my gut tells me that it may not be a good signal--but between this signal, the over-bought market, terrible sentiment #s, and the wholesale conversion of almost everyone on SI--with the exception of this thread -- to a bullish posture, I have decided to throw in the towel. I will accelerate the liquidation of long positions into strength and go into 100% cash--over the next 3 weeks or so. The only positions that I will continue to hold are in my investment account--those I have held for years. I will be willing to go back long after a decent correction--because I feel that there is at least one more tradeable rally left in this market. Not willing to go short as yet; the trend is still up, but the risk-reward ratio is not there on the upside--though the environment and the cash that is flowing in could still push this market forward. I am willing to give up on any more money to be made on the upside, and will wait for a better opportunity to reenter the market on the long side. Not a convert to the BigK thesis--but may be I'll start a thread called "Life before the BigK":)

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