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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (186962)8/9/2002 9:39:21 PM
From: Earlie  Read Replies (2) of 436258
 
Earlie from Earlie:

An interesting week, and one that I have (for a change) watched with a low level of adrenalin. The foxhole has been very comfortable and the weeds have provided a cozy vantage point from which to observe the action. It's been a long while since I have managed to refrain from entering the lists (i.e., back into short positions) too "early", effectively wrecking several decently timed recent exits.

Currently there are no short positions at this end whatsoever, but it has been hard to stay out, what with IBM deliciously squirting back up onto the targeting radar above $70 and the semi equips bouncing back to provide yet another ride as the fall approaches.

Timing the short side re-entry isn't going to be easy, especially with Greenprint stepping up to the plate next week, and option expiration just around the corner, but I expect to commence taking on some "first thirds" early in the week, especially on any continuation of the current enthusiasm. Delightfully, my favourite old nags appear to be well rested and properly fed. Almost time to "saddle up". (g)

While happy to have missed this recent rally, I am convinced that the continuing, indeed accelerating erosion of the U.S. economy will become highly visible to even the dullest sheep this fall. "Pushing on a string" is spreading fast. And September/October timeframes have historically been inclined to give markets some "bad hair days".

Best, Earlie
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