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To: Giordano Bruno who wrote (51309)7/13/1999 10:35:00 AM
From: Jorj X Mckie  Read Replies (2) | Respond to of 86076
 
Jim,
Right now I am only taking very small speculative positions... Due to my personal situation right now and some things that I see happening in the market in the next month, I felt it prudent to go to cash since I can't reliably manage my positions. Anything I do right now is simply for fun.

BTW: I bought OEX puts at 723 for a quick trade when it bumped into the resistance.

With the semis, they have a BP of 80, arguably overbought, and I would expect them to be hit the hardest.

After this earnings season, I think that there won't be much to offset the Y2K fears. Of course, I am one of those pollyannas that feels that the fears are overblown, but I do think that the market will react negatively in advance of the Oct 1 lockdowns.
JXM



To: Giordano Bruno who wrote (51309)7/22/1999 2:35:00 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 86076
 
Hi Jim,
Thought I would give an update to your question from last week.

Despite the P&F indicators, I am not feeling too bad about being short this market. I am guessing that the P&F indicators may reverse soon. Remember, that P&F doesn't really look to catch the tops and bottoms, just the bulk of the move. However, with what I was seeing in the market, I had to trust my instincts.

Of course, we will probably go to new highs next week....
JXM


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