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Strategies & Market Trends : The Millennium Crash

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To: Bilow who wrote (557)	9/1/1997 10:46:00 PM
From: bobby beara	of 5676

Carl, completely agree with you on Sox. If this index has the most air of any index and will fall far and fast in and IF BK. Altera which warned last week was as solid performer for last 4 years (though I don't think a sox component). Intel has already warned of flat revs due to product transition. MSFT warned. GTW had a weak last qtr. Weaker boxmakers are drooping leaving Dell and CPQ the spoils. Are we are seeing a trend here? My thinking is a rally could last no longer than 1 week and soxx puts will still make at hit by sept. expiry. I currently have some puts that are even. Will probably hold them and buy some calls to play a short term rally pop for this week, if this looks good tomorrow. If this is a sucker rally, I can't see soxx making it much past 390. If it does take out 400 significantly, BK has been delayed till Arik's spring 98 plan B. Bob

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