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Strategies & Market Trends : Ultra OTC Fund - UOPIX -- Ignore unavailable to you. Want to Upgrade?

To: bob wallace who wrote (1129)	1/5/2001 11:12:09 AM
From: John	Read Replies (1) \| Respond to of 2063

Good Morning Bob, Today still has many hours of trading left, but if we close down, I will consider myself quite lucky this time. To quote Greg Maddux of the Atlanta Braves, "somedays I'd rather be lucky than good." I may just get away with this potential faux pas. There is no secret to what I like to do though. I sometimes short with USPIX on Thursday's if... 1. Technical data for the NDX looks very favorable for shorting 2. NDX options PUT/CALL data strongly supports shorting 3. The general market climate is very pessimistic/uncertain 4. There is an absence of a positive catalyst These four things usually indicate to me that many people do not want to hold their long positions over the weekend. I was lucky because number 4 should have derailed me. I would not have bought USPIX if I knew the FOMC was going to act last night. I only short with USPIX when all 4 criteria are present in unity. I will cover at the close and go 100% long in UOPIX. Best Regards, John in Iceland Mostly Cloudy, 25°F