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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (6114)	5/12/2004 11:14:53 AM
From: Earlie	Read Replies (2) \| Respond to of 116555

Hi Haim: I am having a ball, my good friend. Most of last year, I refrained from shorting as I could see all the fund managers diving back into the rally (having cost their clients a fortune in the preceding drop, none of them could afford to miss ANY rally, even one that was without decent fundamentals). Today, those same fund managers are starting to head for the exits (and for good cause as not only are the fundamentals continuing to move deeper into "ugly" territory, but now the charts are turning sour as well). For both reasons, I have been shorting for a full month, especially the semis. Most of last year, I just traded in and out of the major gold miners (Newmont, Glamis, etc.) as the price of gold fluctuated. At the same time, I bought a few good, resource-heavy gold "juniors" and salted them away. That strategy has been a solid winner and I will just keep it going (have bought this latest drop rather aggressively). As we move deeper into this developing "sell-off" I will expand the short targets into other arenas. Joe Three-pack's massive margin debt should really add to the gravitational pull, once this thing picks up a bit more down-side momentum. On a final note, about a year ago, I mentioned Mosaic Mapping as one of my favourite "tech juniors". This turned out to be a decent call, as it was just bought out and at a nice premium. Delightfully, the new parent company, Pulse Data (PSD on the TSX) is itself a "sleeper" (trades at $1.75 and will earn $0.30 this year..... and it pays a dividend of $0.05 per annum). I will hang on to this one for a few months yet as we should see $4.00 or $5.00 fairly quickly. Best, Earlie