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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (4139)3/29/1999 4:11:00 PM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
Went short XLK (Select Technology) at $37 for a short term trade. I saw portfolio managers with a cruise control approach to buying, positioning themselves for the end of the quarter without a care in the world. Volume was unimpressive on NYSE and NASDAQ. I suspect we will see investors looking at valuation issues with this 10,00 milestone achieved. Bottom line: I am not buying this move as an upleg especially in this environment and am willing to increase my short tomorrow if the market is willing to give me a higher price.
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