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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (79712)	6/16/2002 11:27:02 PM
From: t2	Respond to of 99280

why don't you wait until the cycle lows before going so long in the markets? There is a chance if we get to 1200 COMP for our bottom that you'll never see Friday's highs for another 2-years Aj, You could be right. We are entering warnings season and there is a high probability that we will keep getting bad news and we already have high PEs on techs....but you have to remember there is plenty of bearishness on the markets right now and that may be important factor for near term targets. How fast do you see the Naz getting to 1200? I am not really taking up many long position trades. Interested primarily daytrading Nasdaq stocks near term...and possibly buying both calls and puts on the QQQ in anticipation of major move (up or down). My big speculative interest really lies with the gold stocks...because if the Nasdaq keeps falling, gold stocks are likely to get hit as well given the big run ups they had already (like the dot.com days). On the other hand, if the Naz starts moving higher, golds should get hit under that scenario too. Of course this assumes dollar will stabilize at current levels or a bit lower. Not betting the farm on this yet...just have small positions for now (NEM short); looking to short some more this week, hopefully on a gold rally.