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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (93989)	4/14/2001 2:28:47 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Hi Iso...I'm basically neutral now, only a couple very small (ie, less than 6% portfolio value) shorts open at this point (MU and COF). Still got my usual gold position (about 8%), some hedged long term MuFu's (Magellan and Fido Growth/Income that I've held for over 15 years, about 15% of portfolio, hedged by an equal sized holding in Rydex Ursa). Some HGT and some BR, about 6% combined. Small crash poot position in DJI index poots, <1%. The rest remains in cash. This rally may move a bit further, I'll wait it out. I'm not buying tech untill the valuations reach typical trough levels (ie, price/sales on the semis or semi equipment makers) approaching 1996 levels...especially since bookings have evaporated there (and contrary to what some analysts say, that doesn't mean they're coming right back). I will get more interested in the short side when/if the 'Dung hits the 50 day moving average, it still has another 200 points or so to go, though. The patch looked good on that move below OSX 110, but I only played a little KEG for a trade. I expect we'll see some pretty fierce resistance in the 123-125 area, probably a retest of the recent lows as we move into the shoulder season, then some fireworks going into the summer "rolling blackout" season. Drillers and the late cycle plays should be the way to go (along with refiners). Regards Patron