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List,
I have no problem continuing my comments. I just didn't want to wear out my
welcome.
3/10 e-mail
<<It looks like we have a new sell signal on the MS so that eliminates the
buy for Monday. Interesting! I guess with the market action today, this
just may turn out OK.>>
We had a Buy signal for Monday, but it was cancelled.
What a difference a day makes. :) Remember, we're short.
3/14 family e-mail
<<Market is crashing big time. NASDAQ is down 175 points. I only shorted
Triquent Semiconductor today at 110 and it is now trading at 97. Not a bad
x share trade. Should have shorted all the high EPS ones with low safety.
That is the ticket with Value Line. Looks like the S&P is doing well also
for us>>
He took his Triquent profits and ran, by the way.
You all know what happened today.
Now, here's what he is using for his stock short sales. When we get a sell
signal for the S&P, in addition to shorting the DIA, SPY and the QQQ, he is
using the Value Line 5 (timeliness) and 5 lists to select stocks to short.
He is now looking to pick those stocks with high earning multiples. So far
it's working quite well. He closed out his short stocks this morning, and
has just the QQQ short.
When we get a buy signal, he uses Value Line and selects from their 1
(timeliness) and 1 (whatever, I can't remember) lists. Or in his own words
to my son, "When I get a buy signal, I buy the 20 stocks that they give a 1
in Timeliness and are in the top 5 industries for that week. There are
usually 30 to 40 to pick from. For the last 90 days, semiconductor capital
equipment and semiconductors have been the two hottest industries."
Again, this letting Value Line come up with the recommendations seems to be
working very well.
With regards to our short S&P future contracts, we're short at an average of
1424.50 basis the June contracts. We've been way ahead on this trade, then
behind, then ahead and now just a little ahead. The market giveths and
taketh away. :)
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of M. Robb
Sent: Wednesday, March 15, 2000 2:01 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Weekly Picks/Family Email
Jim and Guy have left before, and then returned. Perhaps they will again.
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