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

To: bob wallace who wrote (1131)	1/5/2001 1:44:07 PM
From: John	Read Replies (1) \| Respond to of 2063

Hi Bob, I'm beginning to see that now. The economy may be heading down faster than we all thought. The market is not healthy right now. On the other hand, this is exactly the type of hostile environment that bottoms form in and I want to go long to take advantage of that. I may or may not cover today as I originally intended. I may remain fully short, or I may cover partially and take a partial position in the ProFunds single beta OTC, or I may go fully to cash due to the greater uncertainty. My decision will largely depend on the NDX options activity during the final hour of trading, as well as the behavior of the market during the final 30 minutes. If I see any strength at all, I'm covering. Will you scale in today, or hold off for now? Good Luck. Best Regards, John in Iceland Partly Cloudy, 23°F