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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

0.0%

Jan 23 4:00 PM EST

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To: Johnny Canuck who wrote (40233)	9/16/2003 10:12:07 AM
From: Logain Ablar	Read Replies (4) of 69967

Hi Harry: I've mostly been on the sidelines all year. Did fine in the 1st two weeks of Jan but was too busy to trade once the bottom hit in March. I did some trading in May - July but was basically flat until I made a play in Mirant. I haven't been willing to committ until we've had a pull back (so I'm only invested in mir which i added to @ 22 cents, the orig position was between 1.7 and 1.75). Economy wise my clients overall have been doing fine (incl insurers) unless they have weather related business (marina and outdoor restaurant) which have been hurt by wet weather. Two manufacturers (family vs. clients) have been hit hard by the recession but finally started to see a turn around in June / July time frames. Both have backorders back to mid 2000 levels (note both have gone thru significant layoffs and they are not increasing payroll / capacity for a while until they can shore up their balance sheets and some cash flows back to the owners) I still feel we should have a good pull back but I've thought that for a few months now and the market seems to want to go higher.

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