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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: j g cordes who wrote (19632)	1/29/1999 2:37:00 AM
From: Johnny Canuck	Read Replies (1) of 70324

Hi Jim, I hope you are doing well. I re-entered a partial long position on RMBS today at 77 11/16. There was intra-day support at that level on the way up the first time. The long term story remains intact, yet is delayed. I expect the story to play out later this year. I expect lots of volatility. A move to the lower 60's is possible given the weak fundamentals of market. That is why the partial position. This stock is very low float though so timing is difficult. That is why the average in strategy. CYMI sure came alive lately. Did you hold on to any of it from the tank in September? Take care Harry

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