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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (40667)	5/29/2002 11:44:08 PM
From: AllansAlias	Read Replies (3) of 209892

You might be on to something young Jedi. This is the sort of observation that one can not call reliable, but I am thinking I was wrong to close the last puts today. I have been noticing for a week now that the trader types I read, not to follow, but more often to fade if there is consensus, are still looking up. They are all pretty well covered or long it would seem Yes, I am still 75% short in my Rydex funds, but that would not amount to much given I am 95% cash in the options account. The window to something ugly is still wide open imo and I feel naked without a few puts. This market just can not bounce and I find that striking. Any small bounce we do get seems to melt the p/c's and VIX's. Nothing in the last weeks has changed my opinion that the September lows in tech will be violated, and deeply. Yes, this belief is more commonly held than a month ago, but that's OK, it'll be widely held by the time it happens as the majority begins to look the wrong way at the wrong time. I'll be reloading on any bounce. If NDX gets over 1310, I'd re-think that position. Going to bed naked and hoping we can bounce... Cheers.

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