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Strategies & Market Trends : Tech Stock Options

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To: donald sew who wrote (39785)	4/15/1998 7:44:00 PM
From: Patrick Slevin	Read Replies (1) of 58727

While engaged in a less than profitable pursuit to day I had Bloomberg on a TV blasting but.... Nearby some guys were watching CNBC and I overheard that insiders were selling in record numbers. This is usually an indicator that precedes the market by a big number. weeks, months... But the way markets have accelerated in the recent past I do not think this should be ignored. Anyway, I don't think the market has been trading expecting lower earnings by way of companies forewarning. I think it's trading on the Tulip Bulb syndrome. From my point of view I can ride the wave forever if it chooses to do so. I think the expectation of soaring to 10,000 straight away is a case that could only be considered bearish. But unfortunately all this "good news" about earnings will allow the market to shift to the downside rapidly in my opinion. I say unfortunately only because a run to 10K and the subsequent decline would have allowed me enough cash to buy a seaplane to visit Fred on Lake Erie and fly us to NYC to board a yacht to take us to Monte Carlo for a week or two.

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