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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Jon Tara who wrote (6151)10/27/1997 10:37:00 PM
From: Roger A. Babb  Read Replies (1) of 9285
 
Jon, I am revising my earlier estimates of where the Dow is headed as follows:

1. Probability of breaking 7000 is now 99%.

2. Probability of breaking 6500 is now 60%.

3. Probability of breaking 6000 is now 33%.

4. Probability of breaking 5500 is now 10%.

5. Probability of seeing 8000 again in 1997 is now 20%.

6. Probability of seeing 7000 again (after tomorrow) in 1997 is 50%.

My guess for tomorrow's open is:

350 down halt by 10am
market closed at 550 down before noon.

Ugly, ugly, ugly!!!!! I fear we may be about to see a "margin call" panic.
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