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Strategies & Market Trends : Tech Stock Options
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To: Jerry Olson who wrote (40144)4/17/1998 9:35:00 AM
From: Patrick Slevin   of 58727
 
Yes, thundershowers expected. Fine day for napalm.

I just dropped the kid off at the course; at least if he does not get a loop the guy in the caddyshack can teach him out to re-grip shafts on the sticks.

Okay, it's below 8000 DJIA and below 900 SPX by the end of the month. I hate saying that, as I probably just hexed myself.

I think what we saw happening yesterday was the smaller players trying to rally it up and the larger guys sending it in.

The only way, I think, the market can steady up would be short-lived. It would involve some sort of further intervention by Japanese officials. Otherwise as the Nikkei falls too much pressure will be brought to bear here. The prospects of funds flowing out of the Nikkei into US markets would be in small waves at best. I think it will be a sort of dominoe effect that will give us one or two large down days with sporadic rallies as fund managers get worried.

I saw, for example, a commentary that FIDO has a big position in internet stocks. That's nice, but they probably won't keep it for long if he market moves down for example.

So first the funds lighten up, the buy the dippers lighten up, and finally the I'm in it for the long haulers get nervous.

Standard Mission Impossible Disclaimer

As always; If it transpires that my prognostication turns out to be foolish my secretary will disavow any knowledge of my whereabouts.
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