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

To: Bosco who wrote (10882)	2/7/2001 1:07:02 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Actually, I have headed for the hills, until about 25 minutes ago I was extremely heavy in cash, I thought I saw the white in the MM's eyes and redeployed some (to only 50% cash), but have already taken two off the table with minimal profits and trying to get the rest off at some profits. I though that the real massacre would not start until later next week, It seems I was wrong and the massacre starts earlier. I am headed for the exit. Just sold EMLX at $82.25. So far so good, all three at a profit, though quite minimal. I did sell CYMI at a loss at $27.125, The $27.5 to $28 area should have held, it did not, I think it could now go to $22 and possibly the mid teens ($16/$17). I also just got out of the bu$$ at $42-3/8, no bounce here either, the $41 area should serve as resistance, will try a better entry point. This market scares me. I am carrying out a tactical retreat, took a loss of $.25 on BRCD sold at $78.5, AMCC got out even and PMCS took $.5 loss at $58.5. JDSU got out at $47-3/4 (loss.25) and NTAP a loss of $3/8. I am keeping SCMR and will add to it at $19 if it gets there. Back to 70% cash, that was close. Zeev