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Strategies & Market Trends : Moufassa's Lair

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To: moufassa7 who wrote (13006)	5/2/2003 1:51:21 PM
From: Joe Smith	Read Replies (1) of 13660

I have been thinking about redeploying some hedges. I have not made a move since late February and things have been nice in this patient position player mode. What keeps me from hedging is that we have only seen the first signs of the crap running. It seems to be the most reliable indicator when you see the 30% moves in junk stocks. PCLN is today's example. FNSR exploded the other day. But, both of these responded to news and the moves are sporadic. Perhaps that won't happen this time becuase the crap never really dumped in March. Perhaps my greed will cost me and i will be sorry that I did not start hedging this week. The other thing that is interesting is that some timers read this as a different quality. Hussman finally jumped on board the train last week. http://hsgfx:reciprocal@www.hussman.com/hussman/members/updates/latest.htm I think I will wait to see some real turns in the indicators that really mean something like breadth, price/volume, BP's etc. The VIX and VXN are scary but they could easily tread water down here frustrating the bears for weeks. Speaking of real indicators, the most fictional of all, the Bradley, has been really quite on target and it shows no new turns until 6/23. :)

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