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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (22575)	5/12/2001 9:00:46 PM
From: DlphcOracl	Read Replies (1) \| Respond to of 37746

Dale W.: I know that one should not look ahead or plan ahead too far in advance, but that is just what I am doing. I am not going to try shorting or day-trading this market, but will continue to sit on the sidelines on see if this scenario does indeed play out. I am thinking (?hoping?) that the NASDAQ will sell off following the Fed meeting, regardless of what they do, continuing into the first 2-3 weeks of June's earnings warning season. I am not sure if NASDAQ will actually retest the low of 1640 and think it may bottom at 1800. I will play this as the last chance to catch a major tech bounce by buying the ProFunds Ultra OTC shares (UOPIX), which use leverage and margin to give 200% of the NASDAQ move, either up or down. I will start by buying a 1/4 or 1/3 position at 1800 and will continue buying if NASDAQ goes lower. I believe that the NASDAQ low for the year WAS set on April 4 and do NOT see NASDAQ going below 1500 with the Fed interest rate cuts about to kick in and massive increase in liquidity over the past 3 months. Also, investor and institutional sentiment is definitely bullish, the old "buy the dips" mentality. Eventually, I will be 100% invested in the UOPIX shares from July to October or November. I think Don Hays will be proven correct -- NASDAQ will have one last major run to 2700-2800 before the market repeats last year's stunning Q4 selloff. If the market plays out as Don Hays thinks it will, the UOPIX shares will appreciate 300-400% if NASDAQ goes from 1800 to 2700 or 2800.