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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen M. DeMoss who wrote (68452)	2/3/2001 12:27:39 PM
From: briskit	Read Replies (2) \| Respond to of 99985

Nasdaq price channel and comments: Very interesting look at possible bright side stockcharts.com read it at some other obscure site somewhere Message 15292991

To: Stephen M. DeMoss who wrote (68452)	2/3/2001 12:31:32 PM
From: Zeev Hed	Respond to of 99985

Steve, unfortunately, I do not have th mental constitution to short, nor do I play with naked options. What I usually do is move heavily into cash (71% as of close Friday) and write deep in the money covered calls on my core holdings. My "time frame" is still a low on March 9th, but that may change if the market deteriorates rapidly, I do not expect that, I expect next week to bounce a little from the 2575 area, then another decline to the 2375 within two weeks, and after a bounce to about 2500 from there, a murderous decline, into March 9th to around 1900. Exogenous factors can always change that, such as acceleration of the decline next week and the development of extreme readings in sentiment indicators could create a bottom sooner. And please, this is the way I see it, I have been wrong before and am very likely to be wrong again (g). Zeev