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Strategies & Market Trends : Shorts waiting to happen
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To: Judy who wrote (381)8/1/1996 10:34:00 AM
From: dppl   of 852
 
Hello Judy,

Well, so far so good. My assumption right now is this: major market trend is my friend ("correction" or what you would like to call it). Sector trend is my friend (networks and most techs; I'm not shorting bellweathers but they don't look great either). Individual stock patterns are my best friends: I have reservations about ASTF and PSFT on a chart basis and will act protectively if the chart becomes clearer.

Again, I assume no premium and only market value, only dollar for dollar returns in the put positions, and so far haven't had a problem selling them at par value.

Normally, if I were not convinced the 3 trends were with me I would be more cautious and make sure the charts were confirmed beyond doubt (if that is possible).

This rally has the hallmarks of a set up for an even bigger blow off. I ask myself this question: do I want to go long and I can't think of a single stock where I would want to take that risk. I don't even want to make short term trades on calls in this environment.

Good luck

dppl
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