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Technology Stocks : Stock Swap

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To: Trader X who wrote (9617)	11/13/1997 8:59:00 PM
From: Patrick Slevin	Read Replies (1) of 17305

All the bulls have not given up...you are one of them. Bottoms are marked by chaos. This has been an orderly decline. "Da Street" is howling "ALL IS WELL" and monies are not flowing into mutuals, but individual stocks. This is a fishy situation. The mutuals, last I checked, have a 3.8 cash position. A downturn with redemptions has got 'em selling. The market is not a safe place for people extended on the long side...and it is not setting itself up for the April rally we had. The banks are cooked...the techs have to lead the next rally and are in no position to do so...I need a drink and there is no bartender...This all spells doom.

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