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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (27179)10/28/1997 9:31:00 AM
From: Tom Trader  Read Replies (1) of 58727
 
Good morning Kevin and all--well, this should be another interesting day.

I feel that we have quite a bit more downside before we see a bottom -- I think that there is something of a snow-ball effect now occurring with Wall Street impacting foreign markets and then those markets impacting Wall-Street.

All I know is that when things stabilize, I shall go into the market lock, stock and barrel--but protected with index puts just in case the market tanks. It would not surprise me if we see this selling panic create under-valuations just as we had over-valuations.

I don't think that the fundamental outlook for the economy has changed and so what has happened so far, is as one commentator stated a "market event" as opposed to an economic event.

But this is not a time to buy stocks--we need to see things stabilize and that will take a scenario similar to that Don Sew laid out in an earlier post.

Take care
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