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Zeev Hed

08/18/04 6:24 PM

#286056 RE: John Jet #286046

Oh ya, I have been known to have as little as 10% cash, typically, if I think only a major retrench is coming, I will go to 50% to 60% cash. Minor retrenches call for 25% to 35 % cash. That was my mistake on the last run toward 2055 in July, I raised cash to just 25%, since I expected the retrench to be mild and contained in the high 1900, or at least at the old Maginot line at 1940. Was quite wrong and by the time we were near 1900 I was already fully loaded, though every small bounce was used to take few profitable trades. Right now I am still well under 20% cash here with the addition SNPS.