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Strategies & Market Trends : Tech Stock Options
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To: Brad Hill who wrote (27208)10/28/1997 11:29:00 AM
From: Tom Trader  Read Replies (1) of 58727
 
>>Nice call on the buyback publicity. IBM has made an announcement.

Hi Brad--one of the reasons that I think that the downside is limited is because if prices decline further, there will be more "buy-backs" announced. Given that companies were buying their stock at much higher prices--it seems logical that they would want to do so at lower prices. If they don't one would have to wonder whether they feel that economic prospects have changed.

>>What do you think of this rally? Do you believe it? DOW holding at about +120, SPX trying to catch up, Naz moving well.<<

Please see my posting to Kevin re this--I think that it is very doubtful that the market will turn on a dime and go straight up.
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