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Strategies & Market Trends : Raptor's Den II

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To: mishedlo who wrote (1598)1/8/2004 4:43:57 PM
From: mish5000  Read Replies (3) of 3432
 
Don't mean to be a bore here Mish, but I would stay well away from Puts for the time being. The Sox has just broken out and is heading much higher. Brcm has been consolidating for nigh on 2 months and will inevitably move higher with the Sox. The other stocks I do not follow, so I am not qualified to comment.

The Compx has been consolidating for 3-4 months in a small tight range. It has now broken out to the upside and Smart Money is currently driving her much higher. Remember the 80/20 rule - most people can't believe this is happening and are waiting for a pullback - most people are always wrong. 80% of this stunning new move shall be completed in 20% of the regular trading time.

If I were you, I would sit it out, wait for some kind of pullback and look to position yourself Long. Give up the ghost of seeing the COMPX tanking for sometime to come.

Best of luck
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