Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (8816)	12/23/1997 11:13:00 PM
From: Eric Klein	Read Replies (3) of 9285

I subscribe (although I'm not sure why) to the Calif Tech Stock Newsletter put out by Michael Murphy. He's been waffling about the market, saying it's overvalued, then saying it's going to go up, then buying protective Spider puts, etc. A few months ago he was big on IFMX, around the same time he came out with a big headline "Buy BioTech Now", unfortunately at a very inopportune time considering where biotech has headed since. He has now abandoned the Spider puts and says to go long, on margin! He feels that the PC market is going gangbusters (I guess he's never heard of Korea or Japan). My feeling is that he's gotten hammered over the last couple months, and is desperately trying to play catch up. Anyway, from my recent experience with Murphy, I would equate this buy signal from him as a good signal that we're in for a big decline.

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