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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (3360)	7/11/2002 2:37:09 PM
From: gracie2002	Read Replies (1) \| Respond to of 30712

another rumor too....Barton Biggs is raising his equity allocation saying that NOW is the time to step up and overweight equities...apparently Biggs sees "capitulation" he he he...I'm glad I have Jeff and his merry men/gals bookmarked <ggg> Please Jeff and All the Others...keep posting and reminding This noise can get really loud...looking for earplugs and some yummy shorts <VBG>

To: Jeff who wrote (3360)	7/11/2002 3:10:02 PM
From: t2	Read Replies (1) \| Respond to of 30712

Jeff, It looks like the selloff now is similar to what we saw in September 2001. However, the big difference could be that it seems SnP500 index funds are being dumped....domestic and international. Too high of a currency risk now. When the SnP is selling off more than the Nasdaq, that has got to be troubling. I posted this before but Art Cashin considers redemptions of index funds more troubling since many use a line of credit to meet redemptions and avoid selling actual stocks..and of course have no cash levels. So they wait for the inflows...what if the are no inflows to offset the redemptions...That could be big trouble! We hear that index funds are in the market last 1/2 hour of the dollar. That is going to be interested and we should see some fireworks! We should know then whether this market has bottomed on a short term basis. That is why I am very reluctant to go long even for a short term trade. Have some shorts but reduced quite a bit now... but keeping some cheap QQQ puts in case we do crash. If it had not been worries about the dollar and international redemptions, I would have been loaded up on aggressive longs right about now just as I did back in late September 2001. jmho