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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (96725)	7/18/2002 2:07:19 PM
From: Tommaso	Respond to of 132070

The funny thing is, they won't miss the bottom. When it comes, if they have any money left at all, they will be short. Story today in the WSJ about all the short sellers. I think that means that we could get repeated sharp bear market rallies until these bear-come-latelies have lost their money. The only way I will play such rallies, however, is by lightening up on my short (BEARX, Dow LEAP puts) positions each time I feel we've had a really good swoon. I won't be doing much on the long side until we get to P/Es of less than 10 for the S&P and maybe lower than that.