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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: MMM Mule who wrote (18026)	4/5/2001 11:55:09 PM
From: Jeff	Read Replies (1) \| Respond to of 19297

mule.....now that you are thinking short...just remember one thing...timing is everything... i called my shorts last week when the nasdaq was still over 1900....so i got to ride the big drop down cause i planned for it and seen it coming.....MSFT...QCOM..CIEN...JNPR..were all over 55 at the time.....and CSCO was 20 before the drop to 13...and YHOO was 16 before the fall to 11......so i had plenty of room to play.....but my shorts this week i took a more nimble stance and planned to get out fast if things changed.....and they did... plus because i was looking for gold to run some...i was watching as the move started... so i got some long money on gold the same time the market was dropping and short profits adding up...... and because i just started my dow shorts....i bailed on those fast...... now i'm back in the ...watch em fatten up more shorts stage......so i'm just not jumping back in shorts.....i'm waiting for the right moment.....i don't need to catch the top......i just need to confirm a trend change.. on one of my realtime watchlist.....i have the SMH....BHH...BBH...QQQ....CSCO.....MSFT.....those tell me how the nasdaq is doing.....then i have.....SPY..DIA...IBM..those tell how the dow and spx are doing.....then i have NEM...ABX...PDG...that tells me what gold is doing..... now anybody can just watch CNBC and see how the markets doing......but on my watchlist......i have bid and ask sizes flashing in realtime......and when i see CSCO with huge ask sizes.....i know the nasdaq isn't gonna move...or the QQQ.....same thing.....or if i see huge bid sizes on these stocks....and i'm watching my 5 and 15 minute charts...and looking for stoch 50 strength.....i see a 50 bounce....i see CSCO with strong bids...or the Q'S...i know its a bullish sign.....or...i see a stoch 50 break.....i see the large ask sizes pop up.....i know its going down.....its a great advantage watching all the major market movers at once in realtime and confirming bid and ask strength with those stoch 50 indicators...everybody should be doing that.....its so easy.....and reliable..... now i see the whole market at a glance...i see the strength or weakness of the whole market at one time..... so say i see the dow weak...i pull up my watchlist of dow shorts.......i have no long dow targets..roll!! if i see the nasdaq weak...i pull up my list of nasdaq shorts.....if i see strength...i pull my list of nasdaq longs...... if i see gold strong...i jump either NEM...ABX...or PDG..... you see.....i have my targets all set in advance.....i just have to see market direction.....and i'm ready to jump...... i don't have to go looking for stock to chase..... i know my watchlist well.....and know how each stock will act in either market direction..... so just don't go on the fly and start shorting anything at will.......plan it ahead...and let the market come to you..... right now i hate taking longs.....but i love shorting.....so my bias is still short.....but that might change...and if it does...i have my stocks picked in advance already.....and know there charts well enough to jump fast if i choose.... so just be carful with them shorts mule.....and just like longs.....if you jump after a big down turn....the easy short money is made already.....its just like chasing stocks up after they ran already.....be prepared to for them to drop..... anyway.....this market started the year around 2450 i think.....i doubt it ever gets that high again this year...back in the 73-74 bear...two big down years in a row...so if this turns out to be the worst bear in history...nasdaq might pop over 2k a few times...but it might close below 2k for the year......and the downside is still real bad...like 1000 or lower could happen..... so look at it this way......nasdaq is at 1785.....700 pts up gets you to 2400 and change.....700 pts down gets you to 1000 and change..... so this market has as much upside potential as downside potential right now.....so with each point the nasdaq rises up...think of your short targets getting fatter for the ride down......and when the nasdaq drops.....think of it as more upside money if it bottoms..... right now its no man's land again.....risky long...risky short......so make sure of the trend before you commit to a move..... the dow......its gonna crash...so just be patient....you have plenty of time to short it..... and don't forget about gold......when the markets crash....you make long money in gold as you are making short money on the way down..... just don't get over excited shorting.....or going long.....pick your spots.....and be ready for em in advance when they happen.....