7/30/02
Hi,

Now that the Dow and NASDAQ are finally correcting upward, it seems to me that the upward thrust was too much, too soon. I would say that the top range for the Dow is 9000, maybe 9200. The NASDAQ peak would be 1450, maybe 1500.

The low will be tested, and ultimately violated. I do not know how soon this will take place. Use this rally as a chance to sell off your unwanted stock - use closely trailing stop losses.

Gold has sold off down to 303 - from the 320s. This is a great buying opportunity. Add to your positions with further weakness, should any materialize.

The economy continues to be tough. While I know it's boring - pay down debt, go to cash and WAIT. Once in a lifetime opportunities will present themselves (probably next year).

Arnold
- posted by Arnold @ Tuesday, July 30, 2002