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Strategies & Market Trends : Tech Stock Options
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To: Dwight E. Karlsen who wrote (44188)6/1/1998 8:53:00 AM
From: Patrick Slevin   of 58727
 
Futures are floating around the 86/87 level, a fairly large discount to cash.

6.2% is a nice number, but I think the US markets will have a net greater drop from high to low. A ballpark figure would be 10% (I think) because the rise over the past few months has seemed more speculative in nature than earnings based.

Speculative money being what it is, a broad move down (even with rallies to lower highs) will shake it out of the market.
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