Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Roger A. Babb who wrote (4028)	3/4/1998 7:15:00 PM
From: Mike da bear	Read Replies (3) of 18691

How about airline stocks. How much higher can they go, they kept going up as oil went down. How do you see tomorrows action? Given all the dip buying, I'd say that frame of mind will continue. Dip buyers aren't going to give up on that strategy eaisly since it's worked so well the last couple years. I see low open, drop for another 15 minutes as sell at markets are executed. Then the dip buyers start. Market will go up until 10:15 to 10:30, then the next wave of sellers come in to drive market down below the lows of 9:45. Maybe a better strategy would be to put in some buys on several stocks before the open. These would be market orders for ~10% below todays close. They'd also be stocks which have corrected somewhat already. If the buy hits, I'd probably sell shortly after 10 for maybe a 5% overall gain. Stocks I'm considering: ANAD or VLSI. Am I nutso with this line of thinking? BTW, I've got lots of puts. Are people covering at the open or waiting till Fridays job report? mbd

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