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

To: Zeev Hed who wrote (21083)	7/20/2001 6:58:17 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 30051

Zeev; In addition to very bullish sentiment other negatives include a still low VIX and significant overvaluation of the S&P 500. However I note that foreign markets have been much weaker than the the non-tech US market this year and some of them probably represent good value right now.

To: Zeev Hed who wrote (21083)	7/20/2001 9:25:49 PM
From: Fiscally Conservative	Read Replies (1) \| Respond to of 30051

Zeev You wrote:"My stand is in congruence with my general stance that since late April, we have been in a massive distribution range, and that is quite a long period, if it resolves down, it will be a massive decline, if it resolves up, (namely, I am wrong and that period was a massive accumulation period), it will also be massive. I believe strongly that it will resolve down, and thus my heavy cash (74%) stance going into this weekend." There have few market analysts who think 2400-2500 is not out of the range of the impossible. Until I see a capitulation one way or the other I will balance my risk reward accordingly. This market could go either way!

To: Zeev Hed who wrote (21083)	7/20/2001 9:41:19 PM
From: orkrious	Read Replies (1) \| Respond to of 30051

We seem to disagree We don't disagree at all. My feeling is that this all resolves badly to the downside. My investment accounts have been mostly cash for some time, and my short-term trades are almost exclusively shorts. I expect to put on big shorts again Monday morning. I just thought that we were likely to gap up Monday. Everyone is so bullish, and we made it through options expiration and a lot of bad news without any catastrophes. I figured why suffer the pain of a gap up when I can just have that much more profits. I don't know when we are going down, but we will. I just hope I'm not flat at the time. Jay