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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (18443)	1/8/2004 10:37:27 AM
From: t2	Read Replies (3) \| Respond to of 19219

Decided to not get aggressive on the short side. The Nasdaq market just looks too strong. The way NT has moved in the last 2 days and that RIMM move of last month should not be ignored. Too many technology shorts out there. Nasdaq short interest may be the big contrarian indicator early this year and not the usual stuff like Rydex Nova/Ursa (the 2003 indicator) or other sentiments stuff. So I went LONG on the Nasdaq instead...while holding some cheap puts as a hedge. Zeev's target of 2093 almost hit but I think it goes somewhat higher given the incredible momentum of technology names.