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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (20305)	10/16/2002 10:49:24 AM
From: SliderOnTheBlack	Respond to of 36161

nspolar re: ["Slider, et al. EW holds that the top of the previous 4th is a magnet for ensuing corrections. With respect to the DOW this would be approximately 9000, per many EW counts."] ...I wouldn't disagree with that. I've said all along - that the Bulls ought to wait for 8750 to even think about beginning to dust off those Pom-Poms and Cheerleader tights... but, DOW 9250ish needs to be taken out before anyone can seriously even begin to talk about this market perhaps finally having broken out of the BEAR's shackles. My "WAG" was that we wouldn't even breach 8350...with the reservation that 8750 was the watch-point. I won't have a dog in the short-side hunt to any significant degree untill those levels and actually hope we see a move thru 8750 & DOW 9000; because I presently like the short-side at those levels better than the long side (other than Gold Stocks) at these present levels of late. This recent pullback in Gold/Silver stocks was a gift horse buying/trading opp. fwiw: 55% Long Gold/Silver stocks 40 % Cash 2.5% long misc value plays (couple airlines,little energy) 2.5% short misc (subprime financials, couple tech's) ...under 35-40% Cash and I begin to feel naked....gotta have that type of Cash on the sidelines for the MOABO, or any unforseen event driven/Rogue Wave events.