Zeev's Turnips - No Politics Message Board

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

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To: chainik who wrote (97638)	7/23/2002 10:01:18 PM
From: Israel	Read Replies (2) of 99280

chainik.. This week Ive been buying up a few shares of PSFT, ELX, and CHKP, Im a little underwater in ELX and CHKP but thats expected as I have yet to commit fully to the long side. I was short ELX (emlx) for the better part of the year and did fairly well with that position... Truth is I too often have a dilemma going shocks which I've been short in the past, but we must recognize that in any significant tech bounce high beta stocks rise parabolically, I expect ELX, BRCD, PSFT, CHKP to behave no differently then they have in the past when techs have surged... At the moment im only 20-25% long.. bout 30% short with the rest in cash.. A fairly bullish stance on my part as I've been 90% short for the better part of 2002... I do expect to be at least 40% long @ NAZ 1175.. 50% long NAZ at 1100.. and 60% long if we fall below 1100.. I've also began purchasing drug stocks recently... MRK, PFE, and BMY to mention a few.. (MRK's announcement to authorize a buyback afterhours today should help those positions tomorrow). Glad the info on KLAC @$61 helped... hope this helps as well.. Israel

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