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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (80599)	9/4/2003 8:50:32 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 209892

<<I still believe in diversification, so I can't bring myself to have more than about 20-25% in gold. So what the heck do I do with the rest? Foolish stuff like trying to short nearly bankrupt companies>> There are alternatives...energy companies, especially royalty trusts. "Covered puts". Even beaten down munis make some sense, at least until the Fed decides to start raising rates. Finally, some longs in sectors like pharma that tend to be "defensive" and that have been beaten down. "Capital preservation" is my mantra...sometimes that paradoxically means taking some risks.

To: Perspective who wrote (80599)	9/5/2003 1:38:31 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Tomorrow would be the 8th day up in a row for the NASDAQ. When do you suppose that last happened? -g/ng Tomorrow the headline might read "Market Closes At 15 Month High". It'll be something sexy. The piece that we need before bears will take control again is public imagination. Imo, we won't turn until the public is engaged. We're not that close. In the meantime, I remain long. I thought for sure early this week we'd dip to setup this move. I was wrong. I had long positions, but we took a wiggle short in QQQ and got schooled again on trending It goes without saying that nothing happened this week to dissuade me from maintaining a long bias and positions. Last week, the banks held firm, as did the brokers. The brokers this week are working on the nicest close since Feb of 2001. The banks are looking more like a coil than a crash. We have further to go. We have had no sign yet that we are turning down. We'll know when it comes. We could let the first sickening blow go by and not miss a thing -- we'll know it has turned and then we can look for shorts. But we're not there yet. Think back 3 or 4 weeks to all the talk about derivative meltdown and systematic risk. It was deafening. When this starts to fall, we'll all wonder WTF we were thinking with AMZN over $40, but we are not there yet and won't be for a while yet I think. Nope. This won't turn until the public begins to believe again. Perfect.