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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call -- Ignore unavailable to you. Want to Upgrade?

To: sa-mule who wrote (3526)	2/23/2003 10:32:02 AM
From: HoodBuilder	Read Replies (2) \| Respond to of 11447

At the risk of opening up a can of Sentiment Worms, I wanted to point out that the readings I posted last week were not AAII but newsletter writers. I give no weight to retail sentiment as retail is wrong 99% of the time. We may get a push to the 870-900 area on the S&P, for what reason I don't know but if we do it will be a perfect opportunity to buy some S&P LEAP Puts for 04. We are fighting seasonality by shorting the market here but none the less I feel the upside is limited and the downside holds a greater reward. I think the chances of a new bull from these levels is slim and none and Slim just left town. The daily has whipsawed me too much and I therefore feel much more comfortable positioning for "the move" even though the pain gets extreme at times.