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Strategies & Market Trends : Position Trading Forum

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To: BubbaFred who wrote (500)	8/27/1998 10:04:00 PM
From: BubbaFred	Read Replies (1) of 7247

Some thoughts to pass along... Downdraft will continue until highfliers such as AMZN goes to realistic level, which is 15. More downdrafts until most recent stock market gurus are humbled and become mere mortals like Granville and Garzarelli. Need to play both sides of the market and be alert. Trend is down. Rallies will be short lived. Head and shoulder formation? Right shoulder is not fully developed yet. Bearish stochastic divergences in the last three months. I am playing puts and calls on selective stocks for bounces, both ways, with predetermined target prices. Only catch one out of ten, but good catches. I am 75% cash and will go 90% on rallies. Anybody else have experienced bear market(s)? When this bear market is over, there will be stocks selling 10 cents to the dollar. There may be plenty of time for accumulation.

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