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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Guy who wrote (4827)	8/31/2000 6:00:56 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Jeff, as i told Misheldo earlier, when it broke $40, by the breakout, but I am already in the process of trimming the sail, that rally has become too obvious, it is no longer the "stealth" rally of the last 700 Naz points or so. There is some seasonal strength as well, end of the month window dressing and the labor day holiday, by next Thursday (if not some time Tuesday), we may start a short term reaction, lasting to about Sep 13 to 15, IMTO. If that relapse holds above 3950, we should be OK (we should also be OK if the turnips are wrong, then the next stop is around 4500 on the Naz). I will be on the road the first two trading days next week (Tue/Wed), so I will probably lighten up some more tomorrow. I am at around 35% cash and I plan to raise that to 50% before the weekend. If I would have been in the office, I would delay that action by two days or so. Zeev