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Politics : Idea Of The Day
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To: Cynic 2005 who wrote (12730)10/24/1997 5:00:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Mohan- I think this market will not be able to ignore the drop of Techs far too long- mind you TXN or AMAT or WDC are today at discount to the multiple of SP- we have seen TECHs being slaughtered but SP did not budge from 948- now if SOX can come back up from 308 and NASDAQ from down 40 to 20 I think market today sold off worried about ASEAN crisis- but as a whole we need to be nimble and see that my put premiums on 840's do not evaporate on Monday, I think as Mark puts it right pendulam has swung but take the big one out of picture- there is nothing left in most of these stocks for market to sell- APM at 25 making 60 cent a quarter doens not have much of a room niether do TXN or INTC or IBM based on 98 earnings the multiples have even dropped further but one can only buy huge protection and hope that when reversal comes we may be able to save our premiums.
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