MAVERICK TRADING SYSTEM (tm) Message Board

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Strategies & Market Trends : MAVERICK TRADING SYSTEM (tm)

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To: Internet Jones who wrote (758)	7/16/1997 11:06:00 PM
From: Internet Jones	of 759

Every year the market sells off on July 17th. Maybe this time it is different. The street sold Intel short when it hit $70 on July 17, 1995, two splits ago, at an equivalent price of $17.50 a share to today's price. Jeff Vinik sold nearly all of Magellan's Intel in the 60 dollar range (equivalent to today's prices at $15 per share) all summer in 1995. This year, 1997, of course, the street sold networking stocks short starting on January 21, 1997, and ultimately drove Cisco down to $46 a share. Today the price is $79. I can see a price of $90 for Cisco by the time it reports earnings. With lower interest rates and lower energy prices usually airlines do very well, especially when all the flights are full for the summer season. I think airlines are a good investment. Opinions?

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