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Strategies & Market Trends : Bear!
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To: Michael Burry who wrote (33)5/1/1998 11:17:00 AM
From: Lucretius  Read Replies (1) of 271
 
Mike, NKE may not have turned around afterall. It is still w/in its channel, and could not make the push above the 200 dma. I think we saw a classic short covering rally. :( I still own puts and expect it to plunge later this yr when this mkt goes into the tank.

Looks like to me we're putting in a top. As long as the quality stocks continue to drop, and the likes of KTEL and other internet trash stocks are going up. We are fitting the classic definition. IMO.

-Lucretius
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