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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: donald sew who wrote (13069)	5/6/1999 6:28:00 PM
From: Jerry Olson	Read Replies (2) of 99985

Hi Don and all... just got back from New York, had lunch and did some shopping today... i wanted to make sure everyone here knows where i stand right here... as of today right after lunch i called my broker and sold ALL open option positions for May..and those 2 plays i bought yesterday as well, XLNX & ALTR, kept CSCO for an earnings play.. i even sold my favorite stock QCOM..i made enough money on the trade for the third time, i felt being greedy in the face of rising interest rates seems nuts...i sold most internets except 3-4 core holdings...all trading nets are gone..i will continue to daytrade and swing trade these stocks because i know them well...i did raise a lot of cash..cash is good<g>... While i now feel the markets will trend sideways till the FOMC on the 18th...i will sell all trading holdings into strength...I already know AG will not raise rates..but if the FED moves from neutral to a tightening bias, i'll be in puts and shorts THAT DAY... that would be the trigger for a good correction, as rates run up to 6%...so i have turned neutral at the moment, and will use prudent strategies to lighten up all my positions in the next 2 weeks... this has been a remarkable run for me from the Oct 98 Lows...while i might sound wild and crazy...i am not stupid..a profit is a profit... if the market proves my feelings wrong, there is no one that can change on a dime faster than me... happy trading to all...the Juiceman...

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