Jim's Nasdaq100 Special as a basket. Message Board

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Strategies & Market Trends : Jim's Nasdaq100 Special as a basket.

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To: chartseer who wrote (780)	5/29/1999 7:24:00 PM
From: James F. Hopkins	Read Replies (1) of 2103

Chart; I've been saying I favor the down side for some time, in fact I felt real nervious playing for that last bounce, Jamie said he covered Late Friday, heck I swicthed to the short fund and felt lucky to get out of the UOPIX as well as I did. Went back short the MDY too..and wish I had taken QQQ short at the close , Here is a PM I sent to Monty, ----------- To: Monty Lenard (who wrote...) From: James F. Hopkins Friday, May 28 1999 11:15PM ET Hi Monty; Well there is something fishy, did you see my post were just before the close I said the Futures fell off a CLIFF , a big one too..and the tick was up, and the indexes all spiked ( program selling couldn't kick in it was too late ) ------------ Well I just went and looked, NOW the S&P Futures are showing being UP +3.00..BUT thats at 1289..now the S&P closed 1301.. Fair value Tue would be 1304 from the 1301 close..so the 1289 Still puts them DEEP in program sell mode as sell programs will kick ass at about 1.50 to the cash .. ----------- Then we have the NDX it's showing UP +6 and thats at 2064, well shit the NDX close at 2089.70 so shit it's really allmost 30 pts below fair value.. Somebody better buy some futures by Tuesday or we Gap down, now if the bulls are so damm sure of things why they don't buy the futures at such bargain prices ? ------------- So come Tue they may show UP a lot because of that cliff fall, in fact they will have to just to get back to Fair Value.. the S&P will have to show Up +18 to make FV. and the NDX +25 .....shit Meanwhile the newbies will see the + so and so and buy the s**t out of stuff on the open before the programs can kick in ------------------ Unless they get a lot better I'll be shorting till they won't let me short any more. <G> Jim

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