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To: Sarmad Y. Hermiz who wrote (70363)	7/28/1999 5:05:00 PM
From: GST	Read Replies (2) \| Respond to of 164684

Sarmad <The bearish case has been quite wrong for the past couple of days> Has it? Is the market going up? Look closer. Is it? I increased my downside protection today, because of the pathetic rebound these last two days -- very sad, very feeble rallies with terrible breadth, 5 times more 52 week lows versus highs, and flat breadth even today in the Nas with the 'rally'. This is a 'sell the rally' market. Time to raise cash, at the least. Has been for this past week and will continue to be so IMO. Change my model? Not right now thanks. BTW, the short covering today shows why I don't short and why I avoid stocks with big short positions when possible. You can get nowhere even in a down market cause the MMs shake the tree every few days just to make you dump in your pants. Perhaps, Sarmad, it is you who might rethink their 'model' -- and you know I wish you well.