long bias

Long bias on Nasdaq Comp if it can stay above approx 2240 and stay above shallow upward trend line that has been forming since Jan '02. If it can't hold above the upper trendline, the pattern shows it may retreat back to approx 2050 which would be the bottom of the upward trend channel. Around about a 10% pullback from these current levels. Portfolio is long 11 stocks and short 6 stocks, equal starting amounts in each. As always, we stay reactionary, not predictive. We are prepared to put on additional longs or shorts depending on what the market does over the next week.