Russian Crisis - Is it a buying opportunity? Message Board

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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?

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To: Jeffrey L. Henken who wrote (79)	8/31/1998 10:16:00 PM
From: Gary Walker	Read Replies (2) of 175

Thanks for the foreign market listing site. I've been looking for a good world summary. I checked the Japanese sites last night and saw that the Japanese market was up slightly at noon their time. The drop on Wall Street today shows that our market could care less what happens in the Japanese market. Early today I dumped 1/3 of my holdings and bought enough put options to cover the rest. I couldn't get in fast enough to take advantage of the 40 point opening run up. When I saw people selling into the rally for the 3rd or 4th day I decided that enough was enough. What's your forecast for Tuesday? The market has never fallen this much (1000 points) in such a short period except the 500 point drop in 1987 which was about 20% down. In previous drops the market recovered in about 3 months, but that was in good economic times. There's no place to hide except short or puts. Gold will go down too as demonstrated in 1987. This global recession thing has many people worried. The US has been one of the few to avoid a sharp economic downturn. Maybe it's our turn. And where is our fearless leader? Looking for a Moscow honey I expect. regards, gw

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