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

To: orkrious who wrote (22540)	8/1/2001 6:23:40 PM
From: orkrious	Read Replies (2) \| Respond to of 30051

Just shorted a nice slug of PMCS into the S&P 500 add.

To: orkrious who wrote (22540)	8/1/2001 6:30:40 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Jay, we have not closed above 2078, so I still think that the road of least resistance is down, not up. At this point on the last run, NVLS and KLAC were printing new recovery highs, not this time, despite the bullish comments from analysts and not so bad a report from KLAC. With the P/C ratio solidly planted under .5, and the second half of the day disaster in the Dow (a gravestone doji, and more than 100 points decline from the high), I expect that after the morning mark up, we will decline and end down on the day. These are my expectations, but if we seem to be closing above 2078 with volume another 300 MM more than today, I'll have to turn bullish. At least, to the bulls favor, the new highs expanded (a little) and breadth improved quite a lot on the Naz (mind you, the advancing/ declining volume on the NYSE is already turning south...) Zeev

To: orkrious who wrote (22540)	8/1/2001 7:27:39 PM
From: LTK007	Respond to of 30051

<Zeev, what are the probabilities of your August massacre not occurring and the major bull move occurs from here on until we really tank some time next year?> Max here,not Zeev---but a run from here into next year and then the big smackeroo,nah,i don't see it. When was the last time we hit the launch pad from an August or July month to carry into the next year.??? Last year we had a rip-roaring rally in August that went belly up starting September. Plus there is nuisance item coming up,the 3rd Quarter numbers. Ain't one good thing happening except the Street is trying every trick in the book to get wings to fly this dead carcass,the dead bull,imo:) max

To: orkrious who wrote (22540)	8/1/2001 10:07:06 PM
From: mishedlo	Respond to of 30051

Jay Fortunately I cleared my semi's a few days ago (except MU) Still holding now deeply underwater Sept QQQ puts (but nothing a 100 point drop would not fix). Next biggest position that was not anahiliated was EBAY puts. They may run that tomorrow as it did not run today. I am close but did not hit my puke point. I did short a little NVDA this AM (and not at a good entry) but I closed my short from 79 for a small profit and reentered today much higher. Also holding VRSN shorts, EBAY shorts and CHKP short from about 45 today. All these things are right at 50EMA. Right now we need to think clearly and I am not sure I am. I am thinking of buying RMBS leap calls as a hedge. That to me is least a value play. I do not see it dropping more than a couple points, and if the rally continues for a month I see no reason why it could not get back to 13-14. M