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To: isopatch who wrote (92752)	7/25/2001 7:13:40 PM
From: Sharp_End_Of_Drill	Read Replies (1) \| Respond to of 95453

Isopatch, weakness in metal indeed. My NEM position conspired to give me a down day when some of my shorts were up big. At the moment I'm positioned: PMs - 45% Puts (mostly tech) - 8% Shorts (mostly tech) - 18% Longs (TMR, PDC, KEG) - 19% Cash - 10% Way overweight in PMs, waiting on NEM to hit a couple more points before I lighten up substantially to raise cash. Closed out a number of tech shorts today as the pessimism seems to be getting too thick, and a number of targets were hit. Biggest winner lately was slamming QLGC with puts at 75, sold half for about 110% gain today. The big overweight in NEM is going to put a smile on my face if we hit 24 again soon, and a frown if we hit 16. I'm slowly coming to the opinion that the only way to be is net cash & short in this market. I've got a sneaking suspicion that we're in for a big dump within the next year, and if so cash will be king. Shorts are cool, but risky with the flakeyness of this market. Sharp