Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: Oral Roberts who wrote (48240)	10/20/2003 6:32:24 AM
From: AugustWest	Read Replies (1) of 57110

Howdee Oral. Even though I see Monday morning futures are rising and oil is dropping as I type this, let's see if this makes any sense. And I hesitate to even suggest that momentum is weakening. For that would almost assure a healthy 100 point run up in the COMP. However, after a long twelve month bear market rally I'm getting ready to position myself as if we are approaching a big ole fat TOP- I know we've all called it before, so ho hum! Anyhow, when it finally does happen, I'll be looking for a chart pattern like we had at the top right after Labor Day of 2000. I haven't decided yet exactly how I will allocate my funds on the short side but it will be something like 55-60% short(30% long miners/natural resources, 10-15% cash for day trading) technology with perhaps a sprinkling of shorts in home builders. Of that 60%, most will be short the Qs. Then I will add to my shorts in the semis and definitely short some of the software companies. SEBL is currently at the top of that list. I suppose financials should be in there somewhere too. Maybe just a small short in perhaps JPM or Citi- they just announced they beat estimates of $0.85 by a nickle.

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