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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Bill Wexler who wrote (3750)2/27/1998 9:29:00 PM
From: Pancho Villa  Read Replies (1) of 18691
 
>>if these aren't some good clues that the market is about to get its butt royally kicked, then I'm going to sell everything I own and put every last cent into Yahoo! stock.<<

Last week I was capable of getting the price I wanted in most of the long positions I wanted to sell. Today, there is a piece on thestreet.com by Dave Kansas:

thestreet.com

to which I could not resist replying with the following email:

Dave, just to play devils advocate. Your 2/27 piece read to me like the typical piece previous to a market crash. Trying to find reasons why all the irrational things are so rational. All you say about the US sounds so similar to what people said about invincible Japan before it crashed. The current merger-mania, peaking of financial stocks [i.e., brokerage houses], the sudden price runs in concept stocks, most trades hitting the ask, even barbers playing the market, seem to indicate the market has extended itself to far. But then again no one knows for sure where the market will take us next.

Pancho
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