Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: ftth who wrote (1635)	8/6/1999 3:30:00 AM
From: HeyRainier	Respond to of 1720

Dave, that's exactly what I've seen in a number of these Hammers--they hang merely by a thread. With the closes being so close to many H&S necklines, I still hesitate to jump in with both feet. I'm only scaling into the weakness with less-than-full positions--tomorrow's employment report could be the scissors or the tape. BTW, the internet index hangs by that same thread. RT

To: ftth who wrote (1635)	8/6/1999 12:27:00 PM
From: HeyRainier	Read Replies (1) \| Respond to of 1720

Let's take a little break from all this hand-wringing... ________________________________________ Three lawyers and three Engineers are traveling by train to a conference. At the station, the three lawyers each buy tickets and watch as the three Engineers buy only a single ticket. "How are three people going to travel on only one ticket?" asks a lawyer. "Watch and you'll see," answers an Engineer. They all board the train. The lawyers take their respective seats but all three engineers cram into a toilet and close the door behind them. Shortly after the train has departed, the conductor comes around collecting tickets. He knocks on the toilet door and says, "Ticket, please." The door opens just a crack and a single arm emerges with a ticket in hand. The conductor takes it and moves on. The lawyers saw this and agreed it was quite a clever idea. So (recognizing the Engineers' superior intellect) after the conference, the lawyers decide to copy the Engineers on the return trip and save some money. When they get to the station, they buy a single ticket for the return trip. To their astonishment, the Engineers don't buy a ticket at all. "How are you going to travel without a ticket?" says one perplexed lawyer. "Watch and you'll see," answers an Engineer. When they board the train the three lawyers cram into a toilet. The three Engineers cram into another one nearby. The train departs. Shortly afterward, one of the Engineers leaves his toilet and walks over to the toilet where the lawyers are hiding. He knocks on the door and says, "Ticket, please." ______________________________

To: ftth who wrote (1635)	8/9/1999 4:14:00 PM
From: HeyRainier	Read Replies (1) \| Respond to of 1720

My recent market-neutral stance is becoming more decidedly net-short. The bonds are just taking a beating; yields have broken out to the upside, and I'm seeing more deterioration in the higher quality names: HD, LU, CSCO, EMC, WCOM... Standard dividend discount models would imply a contraction on long term present values for earnings. For as long as yields are going up, a defensive stance would seem appropriate. Rising interest rates, wide quality yield spreads, imploding internet sector, and rich valuations suggest prudence when extending the long side of one's portfolio. RT