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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: MrGreenJeans who wrote (4281)4/5/1999 4:50:00 PM
From: Justa Werkenstiff  Read Replies (1) of 15132
 
MGJ: Re: "Yes, I realize he has told people to reallocate but what I am talking about is an overall lower exposure to an equity market where there is no room for error."

I am surprised that he has not been on his asset allocation soap box as much the past few weeks. I was also surprised that for the first time I heard Bob say to underweight small caps this past weekend. Before, he was of the market weighting school.

I took some money off the table and booked profits in some trades I had going from the end of the quarter portfolio readjustment game and, for the first time since instituting my XLK short, I added to that position at the close today. I am skeptical of this latest tech run but ready to change course on a dime if this goes on longer and higher than I figured. I am not going to impose my rational analysis on the market because the market does not care what I think and it is always right anyway.

With that said, I am disappointed by the sporadic lack of liquidity in XLK. Sometimes the spread is just plain silly. At one point they were at $38.25 bid and $38.75 on the ask. That is silly for a SPDR. I don't think that kind of deal exists with the QQQ.
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