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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (50417)	8/16/2002 2:50:27 PM
From: JRI	Read Replies (1) \| Respond to of 209892

Its one thing to quit, and say "OK, don't pay me this outrageous amount" anymore, another to actually give it back... Well, my short play is predicated on (1) many shorts got taken out at 1355 squeeze, so not a ton of short covering coming end of this day (2) it is mid-August, and historically, mid-Aug/mid-Sept. an absolute dog period for stocks (3) volume not spectacular on this rally (4) we rallied into options ex (like many times before) which usually bring a post-options ex selloff-at least for a couple days (often starting week before) (5) some indicators at short-term overbought/individual stocks fighting strong resistence or near (6) big money taking profits from last couple weeks home (after all, we are still in bear market (7) some respected posters not looking for end of day bounce and (8) even in short-term bull scenario, healthiest thing would be back-n-fill up, and not straight up. Well, let's see how this logic goes...so far, I'm early, and think I will only commit to this small position...Even though strategy was to commit final 1/3 on this spike, we gettin' near weekend, and I don't want to have this affect (a small loss here OK)