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Strategies & Market Trends : Tech Stock Options

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To: Michael Hillman who wrote (2739)	6/20/1996 2:08:00 PM
From: Pascal A. Mons	of 58727

Hi Michael, It's getting wild... OK, So another big dive day... the rebound was weak yesterday... every trader noted that of course... Of course it will stop some day... But I don't see any reason why triple witching should be the reversal. I still expect the same downward trend even after... Only the July earnings reports will bring stability for the lucky ones, the other may not recover. Basically even if the Fed doesn't tighten (in less than 2 weeks), there is no doubt left that the next move will be a hike. Beeing so, the longer they wait the harder will be the fallout, since the market set the Long Term Rates (NOT the Fed)... And this quadmire may still last quite long since the Fed is undoubtly pressured by the Clinton Administration not to hike before the November election... This is the backdrop for me. Tell me knowing that what will do money managers ? Not hard to guess, assuming they are not idiots. Plus there is a strong incentive to lock in profits for the mutual funds quarterly reports... That is 3 days before the Fed decision in early July. Anyway that's my opinion. Meanwhile as said Mephisto's broker the traditional highly defensive plays are strong (Pfizer...) : Drug companies. Good luck. P.S. IDID asked to be delisted by NASDAQ and I still don't see anything on Interquote... they are reported as Closed 'c'.

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