dow in for a mauling tonight, page-26

Evening Russell .... I must say that you are a very enthusiastic ... nay, passionate bear ATM .... possibly jaundiced because of a stated 2.5M. short position.

Your charts while interesting, are not yet totally convincing for me .... they may well prove to be true ... in which case I will take my proverbial hat off to you!

As I see it ATM ... 'one swallow does not make a summer' ... in other words it is too premature to call upon the Great Bear to cash in on those heavy short positions.

Plenty of life left in the bull yet ... at least from where I sit.

Be interesting to see how this pans out ... either way, we both will need to be very nimble to conserve capital whichever way the dominoes fall.

Nice to have a difference of opinion with you without the vitriolic personal invective that sometimes muddies the waters and really achieves no end.

Fascinating Mkt. at the moment ... don't you agree?

I have positioned myself pretty heavily into gold and oil counters ATM ... long NCM; LGL; PNA; SMY (and OXR of course) .... also long WPL; TAP and BPT

Sold out of WOR ; MGX ; SEK and JBH

And ...yes ... I still have a position in WOW despite your view that it has topped ... I will await confirmation of a downtrend and that, as yet has not happened as I see it.

It's a game of moveable feasts ... shifting to the best meal all the time and extracting those all important profits.

I hope that you either:

1) Make an absolute killing;
OR
2) Don't get too burnt so that you "live to fight another day" as you seem to be an 'all or nothing' type of trader.

Good to read your viewpoint - as always.