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Zeev Hed

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Zeev Hed

Re: sd post# 56

Sunday, 05/16/2004 7:23:14 PM

Sunday, May 16, 2004 7:23:14 PM

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Why would I want to join the chorus of bears when my indicators have not been so bullish since September of 2001? I don't expect the same size run to follow, but after some pain here in the last two weeks, I expect the normal election year scenario to reestablish itself. It would help if Iraq and the Palestinians issue will take less than front page status, but nevertheless, conditions are quite ripe for a sizeable run. We surely did not get extreme bullishity developing post the late March lows, and on the retest of the arch lows, the indicators have hit real bottom like levels. My 10% cash position is in clear concordance with that opinion.

AZH

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