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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (2764)	1/18/2001 1:39:35 PM
From: Magnatizer	Read Replies (1) \| Respond to of 4583

sandeep I am certainly not buying up here. I doubt I add to the current long position at any point over 2612 nas 100 cash. I do not know where my next buy point will occur but I am currently of the opinion that I will be selling my current long position before I add to it. IOW today is impressing me thus far and I do not think I will get the proper amount of dip to buy. Looking for a short term move to 2989 nas 100 cash. That said... a CLOSE below 2612 today would give me reason to get flat. Short term indicators are overbought and we need to "power" through them thereby sending the bears into scramble cover mode. ht Mag

To: sandeep who wrote (2764)	1/18/2001 1:48:03 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 4583

I just read Mag's reply to your post, near term I think he may be very right, the markets are near term over done on the upside... my trading strategy is somewhat different, I added to the SP's yesterday at 1339.00 in that later afternoon pullback and see no reason to sell it at the moment... I think the way to play it at this point is to decide whether you want to trade in and out of the position for each trading cycle, every few days to a week or so, or position trade the market for a longer time frame perspective and hold the position for the next few months without touching it... for the near term trade, I would wait for a one day pull back and buy the close, something like I did yesterday when I added the 1339 position... or, take a very light position here and just jump in and not watch every tick... I spend much of my days at the park or at the beach and I'm long the DOW, SP's, and the NAZ... I know they'll move higher and I don't sweat the down days (too much)..... Was any of this helpful? GZ