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Strategies & Market Trends : Tech Stock Options

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To: Mephisto who wrote (2734)	6/19/1996 7:17:00 PM
From: Pascal A. Mons	of 58727

Hi Mephisto, You are almost right... I was at the Disco Staurday night, at the Beach on Sunday afternoon (It was too hot to go elsewhere)... And as I said earlier (?) was out to the pool on Monday... just logged in after the close did some post & e-mail... I had expected a bearish market from last week on (we posted on that matter...). On Tuesday, I decided to stay off again for the day and heads out to the swimming pool and recreational area... I got connected to the Internet WSJ website and was only somewhat surprised by the deapth of the plunge... Technology across the board (highest PER got the biggest hits...). I couldn't log on here at SI. I imagine I was not alone. I answered an e-amil from Randal and that's it. Today a technical rebound was expected, however I've seen it was not that strong and you would have to take profit early on for most of the stocks... (the smallest were hard hit, the run was for big safe harbours...). True some companies reported (most warnings prior to earninds date) lower than expected profits. But it was none of the big ones (except 'commodity semi'), nor the hot ones we follow... Same kind of fear that we saw before Q1 earnings... To have a clue we may have to look harder at statistics specific to the tech sector to see if something is going wrong ? I didn't see anything so far. Besides that I just saw the bege book (excerpts) and it's roughly the same than the prior 2 /3 months. Obviously nothing has changed that much. Only the slope changed sign (math) for rates movement expectations (only)... Anyway the kind of debacle I saw on Tuesday only strengthen my view that options trading plays should be open and closed on the very same day... Though I know there is some poker player here around (?)... I think I will still enjoy the outdoors for the rest of the week. Have a nice trading week.

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