Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 33.62

-4.2%

3:59 PM EST

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To: vegetarian who wrote (87194)	8/24/1999 9:31:00 PM
From: John O'Neill	Read Replies (1) of 186894

>>SHorting a leader based on a few indicators is dangerous to say the least because it is hard to predict where this mania will take the market.<< I agree...I was just playing around with it and got caught on 30 cheap $80 puts...by exercising them I lost some more $$ monday...i have no short positions & don't plan on establishing any...I do have some djx sept and oct put (d.j. index) and some uspix...but this is just a small hedge for me against a cash position...a 5% return may seem dull but it still beats inflation and, if I'm right, I'll have the opportunity to buy quality issues...like intc (especially intc) for much, much cheaper prices...I believe that is where the big money is too be made...being long this market is too risky for me.... No way is there enough gain in goods/labor (effectively what money is, stored good with labor), even with productivity gains, to make the trillions of paper $$ gains in the market real.....as soon as people want their money...there won't be a buyer for the stocks near this level....It is the "greater fool" situation..all these stocks will go up if demand exceeds supply...but cash out, one must find another person to sell to.....like that casino analogy, to cash out one needs to sell chips to another gambler...no house to cash the chips.... just be careful..there may be a lot more ride up to go...but it's reaching for those last few bucks that can lead to disater.....I'll just wait for the disaster then go long on slow cost average basis...in 1929 dow lost 89%... buying at "bottom" needs to be slow process IMHO......

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