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Strategies & Market Trends : Tech Stock Options
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To: Tom Trader who wrote (28560)11/17/1997 10:10:00 AM
From: Cynic 2005  Read Replies (2) of 58727
 
Tom, hope you get back to business as usual. I always valued your opinions and I for one never doubted your integrity. Also, I respect Iqbal's commentary and I do believe that he is an honest gentleman who is always willing to help. It is unfortunate that things unfolded the way they did over the weekend. Hope time heals everything.

Re. today's market action. You have mentioned several time, strong gaps up should be shorted in to. It is funny many people seem to woke up to "undervalued" stocks this morning. -g- The Japanese market seem to have turned on a dime in the wake of the collapse of their 11th biggest bank. The reason for euphoria seems to be Govt. aka tax payer's willingness to bail out the banks. How does this affect the fundamental picture? Will the bad loans go away and the business gets better for the borrowers?

Also, on the Ask Mohan.. thread Sankar Acharya, a professor of finance, expressed that the Japanese will be selling US treasuries this week. The rumor is that they will sell at least 10% (~$80 bil) to buy preferred stocks of the ailing banks. And, there is a sense of urgency to do that this week. All told, international finance is in a state of mess. Let your trader instincts roll. Stay alert, take profits as quickly as you can. This is NOT the time for taking investment positions. We haven't seen the worst. IMHO!
DON'T GET SUCKERED INTO THIS MORNING's STRENGTH! You may see a 180 degree turnaround by the close! I AM NOT KIDDING!
Good luck to all.
-Mohan
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