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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (8049)	10/11/2002 12:23:52 PM
From: lurqer	Respond to of 89467

"the bottom is in." But MS said so. After smelling the aroma of paint, sold longs. Open shorts. Aside from being "top heavy", these shorts must come down to meet their Max Pain values. Could get another blip before OpEx, but it might not get this high, so I'm being a "boy scout" and getting prepared. lurqer

To: SOROS who wrote (8049)	10/11/2002 12:41:55 PM
From: SGJ	Respond to of 89467

<<<<Right before this rally was the FIRST time I heard a little nervousness in their voices. All I heard before was, "I'll never sell -- the market ALWAYS comes back." I detected the first signs of "scared" before this rally>>>>>>> To add to your anecdotal gut feel evidence, this past week a couple of the brighter bulbs in my office consulted me on where to move their 401K money. They have known for months that I have been in and out of shorts. I only told them when they asked what I thought, I never gave information unsolicited. By Wednesday, both of them had outright asked me what to do, as they have been and are still in a vanguard growth fund. Unfortunately, there are few options for them, except the MM. I advised against a move into the Treasury Fund now and told them their only option to escape any further possible bloodshed was a MM. This rally was perfectly timed to seal that initial wave of nervous LTBH nellies in the tomb. Personally, I believe we are getting close to capitulation within the next 6 months. It takes awhile for the masses to "get it" and when they do go long. Added shorts too early yesterday. But Adding SPX NOV puts today according to plan. 1/4 position now, 1/4 position by close. Will add more Monday. This is a gift. Looking to get my RGLD back, but waiting for a little more confirmation from the HUI.