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Strategies & Market Trends : The Market Beacons -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (355)	3/9/2001 10:32:11 AM
From: Monty	Read Replies (1) \| Respond to of 1298

Mag Well, I'm not sure if this qualifies as our island reversal since we filled the gap below before we gapped down, but the effect looks to be be similar. I have been net short the last 3 days (QQQ, XLK, NOK, CHIC). I even took out a small short position in INTC yesterday (lucky, very lucky). I am making money on every downtick but this is liable to get real ugly. Not pretty at all. But I am not sure it would be wise to cover at this point either. And gap strategy calls for a hold unless it breaks out of today's trading range. Off to Arlington in a little while! About a 5 hour drive from here. Wish you were gonna be there!! mj