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Strategies & Market Trends : Strictly: Drilling II
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To: Crimson Ghost who wrote (25205)1/10/2003 12:44:10 AM
From: nspolar  Read Replies (1) of 36161
 
Well GC since I started this particular subject I'll go on record as saying no, it is time (to hit the shorties/puts). What you want to do here is take advantage of a window of opportunity, just like some of us did at the bottom of the PM correction, and establish core positions, to your liking. You don't necessarily want to do it all during one session, but spread it out a little to get a good average entry.

After looking briefly at the market techs this evening I'll also go on record as stating this type of foray even looks to have less risk than going long on golds towards the end of Nov.

I expect some heavy down days, coming up, and I expect financials to get creamed.

I'm also aware of Zeev's opinion - that it is extremely dangerous here - and I agree in full. I don't use all the indicators as Zeev does, nor in the same way, but this setup looks pretty solid for shorts. Sure the market could go a little higher here, but so what. Lean on it harder imo.

Al and the boys have a problem and it ain't in Houston.
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