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Rosow.....as stated prior posts... I have been
hedged or short for months... have covered some individual
shorts ORCL on 9-7 covered MU last
Thursday..J still short many other stocks from
much higher prices so no I would not cover on a rally but
would add to shorts because in my work major low not in yet....... I did more
shorting last Thurs and Fri. at this point waiting for targets to be met
to cover.. I am not short SPZ - I am short individual
stocks .. I use targets on indexes for timing. I do have commodity license
but RJFS does not trade commodities. I use the work for timing market
turns for stock and opt trades. Sometimes time is more
important than price..... I have a series of Lindsay counts
that called for high + 2 days from last Thurs and I have another one that came
in Sat. so while market may open up tomorrow I'm going to be very surprised if
it doesn't start down tomorrow. As stated in earlier post the rally has been on
lighter vol than the down move was... that is a sell signal not a buy
signal.........
I am looking for a lower low by mid
Oct ... If mid Oct does not take out 9-21 low then we will see another
sharp rally that should fail then roll over and should then make a
lower low near end of Oct early Nov to actually do more covering and will put on
some longs.. but only for very short term rally.. do see potential for
sharp rally of say 1000 or more points on DJIA after this low but rally
may only last 3 weeks. I shared earlier that I had
targets on DJX 77.41 76.38 I can get lower targets...
IBM is key 85.85 85.05 84.30
79.88 I couple time with price and when I get key
stocks as well as indicies meeting targets and if a reversal comes in and
upside targets are given then I'll go long.
NAZ once Sept 21 low is taken out next
test would be Oct 98 low 1357.10 .. below there I would look for 1113.66
1064.40 .
Dec S & P target was met.. waiting for set
up to get new downside target for next leg down... to use for
timing..
----- Original Message -----
<BLOCKQUOTE
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
rosow@xxxxxxx
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, September 30, 2001 2:44
PM
Subject: Re: [RT] SPX long term
<FONT face="Arial Rounded MT Bold"
lang=0 size=2 FAMILY="SANSSERIF">In a message dated 9/30/2001 1:54:02 PM
Eastern Daylight Time, rjv@xxxxxxxxxx
writes: <FONT color=#000000 face=Arial lang=0 size=2
FAMILY="SANSSERIF">
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px"
TYPE="CITE">I'm sorry for this lengthy reply, but it's tough to develop a
cogent argument without being wordy. <FONT
color=#000000 face="Arial Rounded MT Bold" lang=0 size=2
FAMILY="SANSSERIF">Ralph, So far I'm assuming
you are already long and Dorothy is looking for a place to short. My question
to each of you is this: Ralph - What are your #'s on the DOW, S&P,
and NASDAQ which would invalidate your long bias of the market? In other
words, what are your uncle #'s? Dorothy - I think you have a # in mind
for a short in the near term. What are the #'s on the DOW, S&P, and NASDAQ
which would cause you to forget your near term short and force you to reverse
into to a long position or set a higher target for a shorting opportunity?
Lenny To
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