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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (60740)	11/5/2002 4:47:20 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Hi Bill; I didn't watch the market action today. I made the Local Tax Auction A lot of people showed up about 90 ( 3 times more than normal) I don't know why as there were only 6 of us who did any bidding maybe they were just wanting to look at how it was done. Any way I picked 9 to bid on and much to my surprise ( and delight ) not one person bid against me on any of my picks. I got all 9 at the minimum .. So I now own a sizable chunk of the Colony De Bernard. ------------- Most of this I intent to give to the Kids, it's sort of like stamp collecting I don't so much buy them to roll over at a fast profit , but hang onto them and let the their value go up. The price was right..When totaled I averaged paying 16.3% of the appraised value. I Just Got home and see the market still hung on. I think the rate cut is mostly priced in, and when it don't send us shooting on Up some profit taking will likely kick in, however I have to read the tape before I bet on it. Jim PS Of all the TA I've tried, just plain "reading the price volume tape ( 1 hour window ) has turned out to be the best short term indicator I've found..( I just focus on the 1 hour windows with volume about 3 to 4times the average volume and it shows the swings early enough to use 85% of the time. Jim