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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: doniam who wrote (83913)	7/27/2003 9:29:25 PM
From: Tom Pulley	Read Replies (1) of 99985

Don, I've been staying busy at work lately so haven't posted for awhile, but yes, my model is still neutral. I'm currently at 100% cash......very boring! Hard to tell what the next signal will be or when at this point. I'll be sure to post when I get a signal. This year my model has produced far fewer signals than usual, but that could change at any time. I'm expecting to see some good action in the August to December period providing opportunities to make some good money on the short and long side. Mortgage rates and the longer end of the yield curve have moved up in the last few weeks making for a steep yield curve. I'm expecting (hoping) that will lead to more volatility in the 3-6 week time frame my model is targeted toward. Due to my boredom with 100% cash, I have been doing some trading (with very small amounts). I bought some QQQ and sold calls on it recently. Also shorted ElPaso at 8.8 recently with a stop at 10.7: stockcharts.com[e,a]daclyyay[pc200!c33!i][vc60][iUp52,33,22!Ua20,52,20!Ub14!Ug!Lj[$SPX]]&pref=G Enron says they have $17 million in assets and $65 million in debt currently. ElPaso was doing their best to compete with Enron.........so I'm betting ElPaso's assets are still overstated and actually worth less than their debt. Also, being in the oil and gas business it looks to me like their E&P business isn't performing as well as in previous years. Tom

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