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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: randy kay who wrote (40492)	6/4/1999 2:25:00 AM
From: Berney	Read Replies (1) \| Respond to of 94695

Randy, you and others may well be right! I'm just not willing to buy into it yet and absolutely refuse to get involved in the scare tactics reflected in your message. We are simply in the middle of a long term trading range with the short term direction yet to be decided. If we actually close below OEX 643, then I'll dust off my bear claws; but, not until then. BTW, I already noted that the longer term lower trend line for OEX is at 595 (rising at 8 points per month) and I do believe we will hit it. I'm just not convinced we are in a meltdown mode. The only way you are going to see a meltdown is on significant volume. I will agree that the bears are in control at this point, but I equally believe that this too shall pass. JMHO & BWDIK, etc. Berney

To: randy kay who wrote (40492)	6/4/1999 3:12:00 AM
From: J. P.	Respond to of 94695

You can settle down. I believe the trend is down, but within a tight trading range that will cause you whipsaw if you lean too heavily in any one direction. I wouldn't short anything unless it has broken support and the business fundamentals as you see them are deteriorating. You can try shorting the nutz, which seem to have collectively broken key support, however be prepared for pain, because these things move fast and far in either direction. I'm sticking to a combination of long term stock holdings, some very selective puts, and some very selective calls as a hedge.