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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: McNabb Brothers who wrote (15873)	5/16/2001 1:50:54 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

I was just responding to Justa that in the last hour I have gone to 30% (from 72%) cash in anticipation of 32125 on the Naz being taken out, but cyberspace ate the post (g). I was commenting to Justa that the DJX actual P/C ratio (around 1.46) by recent historical standards is quite bullish (it is lower than at the last two bottoms this year). By the way, this reentry is still lower than my exit around the 4/19-4/20 period, thus this month of staying mostly on the sidelines, was not problematic at all. Of course, being "whipsawed" here is not impossible, I have been whipsawed more than once, and I would have prefferred to have a lot of indicators in better shape (like the equities P/C ratio which is still too low and both the VXN and the VIX which are close to their low near the prior tops. These two indicators are best looked at for reversal than absolute numbers, so, i'll let them be for the time being. Oh, in that lost post to Justa, I suggestwed that the next target on the Naz should be around 2388. Zeev