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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (7652)	2/1/1999 8:38:00 PM
From: LastShadow	Respond to of 43080

Mutual Funds When I left at 3:15 the SPX was above 1280, and that would trigger the reentry to funds. However, after emailing someine tonight, I rechecked the closing data and found it to be 1273. Its moved horizontally between 1275 and 1220 all January, and todays close was not impressive in terms of either volume or strength. However, technically it did hurdle the local high Moving horizontally can lead to one of three things: 1. They can keep going sideways in which case I'm at least earning 5% on the money in the money market. 2. They can start going down, and anything below 1215 is a bearish correction. 3. They can start back up, in which case I will then reenter. Tomorrow will be important. If it is an exhaustion gap (a Full gap up on the SPX, as Copeland noted), then I will enter the ProFunds UltraBear Fund and Rydex URSA. Iff however there is some strength that says the market will build above 1280 and broad sector improvements (although I can't imagine what woulddrive that), I would look to go long on one of each of the pairs below. MNNAX WWWIF DTGRX NTCHX POTCX WWIFX FSPTX FDCPX FSCSX RYOCX They are all pretty equivalent within the pairs. However, I still see the market as moving horizontally between 1215 and 1280, and until it break out of that, I won't enter any funds. btw, thanks Copeland for yhour post - very worthwhile. lastshadow