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

To: Justa Werkenstiff who wrote (16576)	5/24/2001 5:27:01 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

I am already out of my bull suit, not in my bear suit yet, just in "limbo". What is it that you like about the equities P/C ratio, it ended at .51, meaning, it may have turned, but it is a long way from the .9 or so I like to see at a bottom. IMHO, we are being "set up" here meandering around 2250 on the Naz, they are trying to get the last bear to call the April lows the "bottom", then they will hit. We could still go to that Magical 2388, but believe me, you'll have to select the stocks you ride very carefully to do well. I am simply going to take a very long weekend and wait until late Tuesday before I decide what next. I am at 59% cash here, with a good 20% of this as the core. I covered the calls on MRK earlier today, and if we do not go above $73 and close there in the next few days, the core will be reduced. If we get back to the $75/$76, I will write the next cycle. Nice to see both AGM and IGT hitting new all time highs in the last few days. Zeev