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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Clint E. who wrote (27481)	7/27/2000 11:16:06 PM
From: shasta23	Read Replies (2) \| Respond to of 68319

Hi CLINT! Been burned out with working more than usual(nothing compared to you i imagine but i worked very long hours for 10 years as an MD in a hospital and try to get down to a 40-45 hour/week life time average!!!), house stuff and market. So little time,so many things to do.Where did the summer go! Closed out all long positionsthis morning due to lack of time all next week and the week after that(will help a lot during reconstruction of bath and kitchen)and feel good about it when i see what happened. Just flipping through some of the charts and man did they got wacked today. Really ugly stuff. Must be bounce time! But looks like the party is over again!! Some interesting things: Bonds are not confirming this sell off, VIX is also not reacting and is still in bullish. Don't know what's the deal. The sell off in the SOX is severe:almost 10% is huge for an index and that despite earnings that seemed excellent in my very limited FA understanding.Corrected now to a long term uptrend line going back to 1998.Tomorrow will be key. If we hold here in the SOX the long term uptrend could be still intact. This seems to be a market that becomes increasingly frustrating and more difficult to trade. It's not any more a free lunch for mom and pops, the one way street up that we had before. IF you're not nimble in this enviroment you're really dead quickly! So right now 100% cash and fortunately could talk my wife out of GLW,RFMD and CMTN some time ago so that we go into this correction a lot lighter than the last time and made a lot of the losses back. Needed that money for the house and i think it will be safer there! Just wanted to drop in and thank you for continuous posting of important info and impression. Thanks to Harry for all his great work. I don't know how you do it! Stefan p.s. just looked at the chart of CRDS and it shows the severity of things: High 2/18 at 202, today down over 50% in one day to 6 3/8. Mindboggeling!