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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: Bob B. who wrote (109415)	2/27/2004 6:50:14 PM
From: ChrisJP	Read Replies (1) \| Respond to of 208838

Hi Bob, Yes I'm still short. Although my position off 500 short QQQs got taken out at 36.90 today. Also -- I played SCLD from 2.17 to 2.50 this week (I sold 1000 of the 5000 shares for 2.78). I also played 2000 NGEN from 8.40 to 8.80. Here's why I'm still short. 1. The NASDAQ touched the 20 dEMA this morning and immediately backed off -- back below the 50 dEMA. According to yahoo, it did this on GOOD and BETTER THAN EXPECTED economic data. The NASDAQ chart is not very impressive, although the higher highs and higher lows this week are promising. siliconinvestor.com 2. Europe trade chief confirms sanctions against US start Monday Yikes !!! story.news.yahoo.com 3. Ummmmm .... is oil $36 a barrel now --- and heading HIGHER ? When the public has to spend an extra $30/week on gas -- that's $30 they aren't spending at Walmart on goods made in China, lol. 4. WHERE IS THE PPI ??????? (Hint: Does anyone NOT believe that the PPI is gonna be indicative of a high inflation rate -- like 10% maybe ?) bls.gov 5. Seasonality -- The markets should be weak until the 1st week of April maybe. Have noticed how weak the volume is ? I may get out of my BEARX and USPIX then. and yes -- if the NASDAQ punches through 2050 - 2070 -- I will probably sell my shortie funds. Hope that helps. Chris