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Pastimes : Ask Mohan about the Market

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To: Crimson Ghost who wrote (17112)	11/19/1998 5:48:00 PM
From: Zeev Hed	Read Replies (2) of 18056

George, I am not sure what you mean by "dangerous, if a fast 300-400 points retreat on the Dow is dangerous, then yes, but in the process the market is finally healing some of its technical over extension, today's action was actually pretty bullish for a strong year end rally, maybe even to a marginal new high (meaning some 600 dow points or more from a mild retrenchment). I would not be aggressively bearish and after having completed raising my cash position to 75% today, I'll probably start and redeploy back in starting in the first or second week of December. On core positions like MRK, I just reinstituted a covered call strategy today. Zeev

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