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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Trading Machine who wrote (18151)	9/8/2001 11:22:09 PM
From: phillong69	Respond to of 52237

Here's the 411, or what I was thinking - SPX 950 should hold; regardless, at this point, for the market to tank more than 10% from where we are would be pretty nuclear, and break all support etc. etc. (all the sideline $$ would like U.S. equity at -10% from fri's close etc. etc.) If it does, oh well, I'll buy "out of the money" oex 500 calls with my remaining cash and be fine. If we go down more than that, we've got bigger problems (and we'll wish we had a real president). Otherwise, we ought to get a chance to get out at above where we are now, and fairly soon. Either way is ok. I am _NOT_ happy with the friday afternoon "rally". And if I had it to do over again at this point, I (may) have kept 2/3ds 403 sidelined. It really seemed like an EP to me. But then, my experience is limited. Still, I'm not in the biz of global bottom picking; I'll buy on what I perceive to be a freak out every time. If it happens that my position gets killed by > 10%, and for a while, I'll be happy of my economic position relative to the rest. Basically two possibilites: 1- we go up from here (after possibly missing better EPs). (Fine either way.) 2- We don't, and this is a lid on the top for a while. In that case, we need to exit on the new "ceiling" and start trading the range, be it that it lasts for 16 yrs. We still make out like bandits over the buy and holders. Hell, all I have to do at this point is nothing and beat SPX by 20% (again ....) Who loves company :)

To: Trading Machine who wrote (18151)	9/9/2001 12:30:12 AM
From: Gersh Avery	Respond to of 52237

It's interesting .. I don't know if you looked at my fork page lately, but I've got rough OEX equivlants on my SPX fork: mid tine at 439.15 upper at 605.92 Of course these would be falling at a rate of about 0.8 OEX points per day.