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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (14196)	11/24/2002 7:58:24 PM
From: PuddleGlum	Respond to of 57110

I'm not expecting any more from this rally, but I'm prepared for it to go another week. Yesterday I was making plans to buy some puts, but that's either premature or not a good idea at all. My main interest at this time is to have cash available for buying what might be a significant pullback (we've talked before about what "significant" means, and my belief is that I'll know it when I see it). Regardless of any momentary (daily, weekly, or monthly) bearishness on my part, I still think that the long term view is up. I am also optimistic about my prospects of riding the waves, so I don't particularly care about long term direction (except as this applies to my employee stock options). What agitates me most about the present market is that I see too many strong currents in both directions, so I think that something "meaningful" is going to happen and I'm afraid of getting caught on the wrong side. And I HATE missing opportunity. Greedy and optimistic. I'm guilty on both counts, which is very un-Marshwiggle-like. Some economic observations: My wife and I went to visit a new home development yesterday, and found that it's nearly sold out, and there are no models to view. These homes go for $500,000 on 7000 sq ft lots, with living space of around 2100 sq ft. And this is nearly an hour outside of Silicon Valley. We went shopping yesterday in San Jose, and talk about CROWDED, yes it was. I hate cities. Lots of shoppers there were, yessirree.