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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Rick Storm who wrote (6526)	4/30/2001 10:56:07 AM
From: Jacob Snyder	Read Replies (2) \| Respond to of 52237

Still selling the rally. At the beginning of April, I was 100% long the market. As of today, I am 70% long (Old Economy Value), 20% put LEAPs (tech stocks), and 5% cash. Consumer spending is coming down, consumer sentiment is coming down, and, IMO, neither is anywhere near hitting bottom. Investor expectations (and PEs, especially in techs) are still too high. I was surprised at the GDP numbers. If I'm right, they will be coming down. I'm still betting that this recovery is U-shaped, and we are just at the beginning of the flat bottom part of the U, so we need to retest lows at least once, before a sustainable rally happens. If I'm wrong, my puts will lose money.