Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: yard_man who wrote (22085)	7/22/1998 1:02:00 PM
From: James F. Hopkins	Read Replies (1) of 94695

Tippet; I hope I had nothing to do with it <G> I saw them as a good bet yesterday, but more of a toss up today. I didn't see how she was going to hold that 8pt gap up, in the face of the market going down. But I sure didn't mean to imply I see IBM as a crash and burn play. Just a knee jerk play is all I was looking at. The tick has improved and the SPX dipped to 1155 and bounced, tahts a good drop from the 1190 top she just made, and could now set the bottom of the trading range. I never called for a BK, just a correction. We could get more down side but the shorts came in early today like gang busters and that will limit any fall. ---------------- She is hung at the 1160 level now and I can't tell which way she will go next, I doubt any one knows..hedgers are putting in strangles but that's not my game. Jim

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