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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (6646)10/19/1997 11:38:00 AM
From: Ibexx   of 94695
 
Hi Bill,

Can't believe you tracked me down. <g>

Re.I motice the OEX Master Blaster is calling for a crash... has like 100 OE

Who the heck is this individual? Could be another good contrarian indicator for me?

My take: even though both the big board and Naz tanked last week, the tanking was by no means quantitatively uniform. The energy issues and small caps (the ones with good fundies) reluctantly went down in sympathy. No, I don't sense a crash on the horizon at all, despite the bears' valiant effort (aided by media mania) to engineer one.

I have been taking profits on my energy/insurance issues and re-employing the capital selectively in solid companies--CPQ, for example, of which I own both the commons and LEAPS (more than 60 contracts of 99, 00 and various strikes). CPQ has everything going for it at this moment.

I will agree this market is not for the wimps--good ones never were. I "earned my living" this year by buying CSCO LEAPS massively when the stock was at $47 and when you couldn't give the shares away for free. BTW, this was not gambling, just good fundamental investing.

So much for next week. I think I will go shopping in the City--all orders are in place covering a variety of scenarios.

Regards,
Ibexx
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