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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (122)	3/13/2001 5:23:28 AM
From: Jenna	Read Replies (4) \| Respond to of 589

<font color=teal> DOW futures +73 and nasd + 21.50. Probably a good idea we sold our short plays. We might have a scenario today of a gap up maybe a little gap 'n snap.. and then a COLLAPSE afresh of the technology sector. DOW however might enjoy some gans. I'm thrilled we are in CASH!!!! I staunchly support continuation of my "INVESTMENTS R'NOT US policy. Mo mutual funds, no 401 K's.. just cold hard cash. Another scenario would be.. a second move up by 2:00 or 2:30 similar to the move in the morning. So we might be setting up for a bear flag rally in the Dow.. and for the Nasdaq it remains to be seen. Our strategy is trade off the trendline on the 5 minute chart. If we buy, we SHOULD EXIT at the first reversal.. and either go flat or short any rally on this 5 minute chart. I think it was very timely to exit all those puts/short plays. Retail sales: There are about 6 important companies reporting earnings in this sector. A strong sales report, might be good for the short term, but forget that Mr. Greenspan will lower the interest rates by anything appreciable if consumers are still spending.. (so we hide that bill from Cartier's.. and that Italian sports car... put in in the garage and bolt the doors) We have a lot to cover this morning. I should be in the room by 8:30.