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Technology Stocks : Stock Swap
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To: Trader X who wrote (13236)4/10/1998 2:07:00 PM
From: Patrick Slevin  Read Replies (2) of 17305
 
CYMI can go up a ton, works for me.

My thoughts are the market shakes off the Plonk theory and is strong mid-week. Japan's Yen is being gobbled up and the greenback sold, so short-term I am persuaded to believe that Monday will not be a good day for the long side overall......but a rally comes off this intraweek and the real problems near-term for the market come just after expiration.

Downstream, May if you will, I think the market will begin to outperform all expectations. Techs certainly should lead the upward thrust and I have a stock or two in mind myself. However, between now and then I am more cautious than most. I understand there is no apparent technical reason why the market should pull-back.

This is exactly what makes me cautious. The rationale for market declines is always apparent after the fact. Unlike the kerPlunks and unlike the DJIA 10,000 group; I like to make my money the old fashioned way. One day at a time. I think it's incorrect to presume the market will continue up without a near-term correction....I also think it's incorrect to presume we are on the verge of 1929.

My guess is the week after next we get a nice shot down, then the market moves strongly forward for another 5 years.

5 years. Somebody hit me, did I say that? My usual time frame is to hypothesize what's possible in the next half-hour.
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