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Technology Stocks : Stock Swap
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To: Trader X who wrote (9532)11/10/1997 1:04:00 PM
From: Patrick Slevin  Read Replies (1) of 17305
 
I do not recall ridiculing you or anyone else in March....as it was,

I thought I had a good call on the downswing in February and played for it to continue.

If I recall my Dow Theory correctly...and it's been many years since I paid much attention to that stuff...

So correct me if I'm wrong but....

...According to Dow Theory, what is needed for this to be considered a bear market is for the Trannies to break 2852....yes? Now trading at 31xx this might not seem likely at first blush so I hesitate to believe that as many bears are around as you may perceive. There has been a scramble into puts, but that will die off when people get upset at losing premium.

For my own part I wish the gawdawful thing would just drop off a cliff and have done with it.... but you seem to be waffling. Am I to infer that you are on the fence here?
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