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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (1034)	6/27/2005 4:08:45 PM
From: Walkingshadow	Respond to of 4814

Hi Gersh, I saw no evidence suggesting shorts taking up new positions, and in fact I see evidence of buying long positions. Not huge volume, but combined with what we saw last week, I am concerned enough about the short position that I am covering here. Normally I would probably hold the position until I saw more evidence, but the thing that has me concerned is that we are in a long-term uptrend, and the short term correction that began at the end of December/beginning of January clearly ended in late April/early May. So maintaining a short position here is now too risky for my tastes. This market could move against the shorts quickly. T