Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Zeev Hed who wrote (66483)	5/13/2002 4:23:03 PM
From: westpacific	Read Replies (3) of 99280

I think we see that second level at best. The action in GOLD stocks today ran counter to this whole rally, and this sector is so overbought it is down right scary!!!!! The action I see in the market, massive volatility, massive complacency is setting us up for something very nasty. These short covering rallies are what we need as they remove the covering fuel. Also we are getting more and more longs sucked into the void. Overall just as expected today. The long trade is over now IMO - not even sure if worth trying to pick one to scalp. And I feel AMAT may not cause a pop but a tank - so being long into AMAT is not worth the bet now so much of the oversold has been taken care of. I am rebuilding my select shorts and doing a lot of sitting into the eow. 40% short/20 long/ 40 cash at present, most longs in a small gold and a few beaten stocks. The Gold Miners are due for a rest over the summer so not sure how much more this play can offer. Really want to see some consolidation here before I am too comfortable.

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