Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (14963)	3/13/1998 6:31:00 PM
From: James F. Hopkins	Read Replies (2) of 94695

Bill; I guess you remember me saying not long ago I saw 8600 as the resistance level..seems to be the case. The Dow Mega retreated fairly good today, and "could" be sending a I think I'm over bought signal..BRKA also pulled back today. Now one day don't a trend make, and it will take some conformation, This is a situation that I feel like a fool to try to call, as it's a toss up. There are just about as many strong signs as weak ones and how "herd" will read them over the week end is like reading the "jury's " verdict before they return. She got to push through the 8600 with volume early next week or my sell orders go in. Heck I'm most half cash anyway..just been having a hard time finding suitable dips to buy on. Sold my PCU too soon she up again today :-( Only got one of thoes micro caps left..and bought CPQ to soon, but not to bad..at least not yet. IOM..and WCD done good so far..want to get some APM but I'll wait to see what the market does..I don't go long nothing in a down market..and I quit wasting time shorting in an up one. Right now I got a wait and see position keeping my longs but not buying..or shorting. I feel like the "Lamb" caught between the Wolf and the Jackle not knowing which way to turn, I'll hold my ground. Getting out for a minor correction genearlly hasn't paid off much, as getting back in the way she jerks up, leaves you net down..the Big program trading boys have got this market by the tail, short term there is not a lot of chance beating them. I still don't got my mega tail the way I want it to feel good about playing the DIA, but I'm going to work on that this week end. Jim

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