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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36398)	3/10/2002 10:46:07 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68130

So what do we do? Friday was proof that a really overbought market can become a really really overbought market. I hate these sharp transition periods. The bottom pickers look like geniuses (please, no more emails!) while momentum guys like me have to sit on my hands and wait for the first pullback. However, other than the aggravating emails from the newfound "experts", this doesn't really bother me. I know that if this is the "real deal" there will be plenty of opportunities along the way. For now, I think I'm going to stick with my recent mantra: Keep it light. On the long side, focus on defensive issues such as consumer non-durables (or issues that have outperformed the market before the run up such as gaming). On the short side, continue to focus on technology issues that really haven't taken off with the rest of the market. No matter what you do, just make sure you wait for entries and honor your stops. hardrightedge.com