Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Tommaso who wrote (17194)	4/24/1998 3:52:00 PM
From: James F. Hopkins	Read Replies (1) of 94695

I've been a buy the dips all along..till Monday..even bought last Friday..to sell Monday on the little spike.. Was not sure enough WED to go short but that was the time to have hit it..how much more we got I won't call from here the composite just picked up some speed south relative to the 100 and 500..and the 500 started gaining on the 100.. as long as the 100 is setting the pace you got a trend, maybe a short one but a trend none the less.. revesals come as they switch directions..100 start up..with the 500 still sinking will signal a reversal , but that signal may be muted if your not watching close , and tracking the relative motion. Things are testing support, so it's to soon to call Monday with much conviction..yet from here I see her going on down. A lot can happen over the weekend..any more bad news and Monday will be faced with a problem.. Part of this slide today was. dailynews.yahoo.com that came out early this morning, or course some knew about it before it was released , and it may have had something to do with yesterday going down. Just how this messes with their sleep over the weekend we will find out Monday. If they run out and get stocked up on prozac maybe the market will bounce. I'm just a litle short having got some BEARX today..but I got enough dry powder if I see Monday strong I can go long and offset any loss in Bearx.. If Monday is weak I'll let bearx ride till I go in and try for a dip. In short I'm more hedged than short ( or ready to be hedged ) This is not as profitable as being right on an all out bet.. but it lets me cover my rear if I'm wrong. Jim Jim

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