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Strategies & Market Trends : Tech Stock Options
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To: SE who wrote (41608)4/28/1998 9:14:00 AM
From: SE   of 58727
 
Given the overnight action on the S&P's and the Long Bond, I am beginning to think that perhaps this is a set-up and the buy the dipsters are going to be had. Perhaps we are up 100 to 150 off the open and then we start to trend lower. May be one bounce in there today, but I think we end lower....maybe 200 off the highs of the day. Then tomorrow we trend lower yet, maybe shaving another 100 to 150 off the DOW and then people start to think this is not like last time and going into Friday could be a large move down with follow through on Monday after the buy the dipsters have had a week-end to think about the profits they watched go away.

I am beginning to think that maybe this is the move down I have been watching for. Main reason is that upon my read of the SI boards this morning, it seems that many are thinking buy the dips and not too much talk of a big down move. There is some here and there amongst the bears out there, but this is the most positive I have seen in a while ... by most positive I mean most positive on the normally bearish threads.

Too bad Patrick won't be around for the fun. He called this one and I am beginning to think this shall be the week. I can't hardly wait for the open to see what develops today. My suggestion....sell the rallies! BWDIK! :)

-Scott
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