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Strategies & Market Trends : Tech Stock Options

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To: Barbara Barry who wrote (42604)	5/7/1998 6:46:00 PM
From: Tom Trader	Read Replies (2) of 58727

>>What is scarey is that the market tanked in Oct. due to Asia very quickly and recovered....that just made investors less impacted by "real" bad news<< Barbara, that is how tops are made. It pulls every one in because one see that each time it keeps recovering and going to new highs and then one buys with the confidence that even when it pulls back it will not last -- and then one day it really is the top. In a sense when the last bear throws in the towel--that is when the top is in place. I can't recall what the media/experts said when the market in Japan topped in 1989 -- but I would suspect that it was viewed then as just a pull-back -- the only thing is that it has lasted almost 10 years. I don't know if the Starr report will make any difference or not--in fact, I feel sure that even if we have a major pull-back in June, it is not the end of this bull; like I said before, sentiment has to change drastically for a major top to be made. The froth that we have seen in the internet sector has to become wide-spread and we need to all become believers in the market -- probably when I am 100% invested and I am pounding the tables like OJ, we'll have a top in place:)

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