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To: Berney who wrote (6388)7/25/1999 4:11:00 PM
From: John Harton  Read Replies (3) | Respond to of 11051
 
Hello Berney. Re:> "Why am I long?"
I too have been following the interesting discussion on the MDA thread. One more fuel to the "uncanny" resemblance of summer 99 to summer 98. Monthly charts show a gravestone doji on this years current period, just as it was avant le deluge last year(OEX or SPY). Though one might wonder how much LTCM had to do with last years "deluge".

Other Reasons to be near term Bearish
1)No mo' earnings 'til Oct.
2)August!
3)Y2K fraidy cats
4)Eric's excellent study on MDA reply#10575521
5)Jim's currency cabals rants(must be related to Dennis Miller)also MDA reply#10638469
6)Fed tightening on the horizon
7)Missles over Japan, Nuke saber rattling over Taiwan, Saddam, Slobo etc.

Reasons to be near term Bullish
1)Liquidity
2)Liquidity
3)Liquidity(inflows)
4)Really near term bullish-Dead cats a bouncing

Me? Hell, I guess I'm a bear. Still holding ~33% stocks and Leaps(Jan 01) just in case I'm wrong(Plus I'm definitely a long term bull).
Sure would like to be rid of some Oct 99 CPQ calls.

Just my 2c
-John