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Strategies & Market Trends : Roger's 1998 Short Picks
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To: larry who wrote (12048)7/27/1998 4:14:00 PM
From: space cadet  Read Replies (1) of 18691
 
larry, yup I got some calls but I failed to buy more today. Guess the market spooked me, and I got timid. I will make some money if dell does what we expect but not boatloads of money like I made on msft. Oh well. Anyway I have the exact same outlook as you. Since the market could not hold its losses and recovered in the afternoon it looks like an important turnaround day to me. Apparently the shorties covered bigtime this afternoon. Now I expect to see the market to continue higher, lead by MD. If the market is going to collapse then dell will be the last non-internet stock to fall so you might as well own that one compared to anything else, I figure. Man that dell sure does sprint when it moves!!! You need to be watching it all day or use a limit order. I did neither so missed it sinking below 102. Now it's up 5-wow and my calls are now in the money! Incidentally what do you think about psft? It's had a fall and might be a good long here.

Also for everyone here is my prediction for the next few months. I say we continue rallying here lead by dell till Aug options expire and dell reports. This kills all the August puts thus making big bucks for the mm's. Then we sink throughout sept and oct perhaps spooked by the Dumbocrats having a chance to retake congress. This kills tons of calls. After that my crystal ball is hazy but we probably recover like last year and go on to new highs in January. I don't know if the fall in the fall is like last year or like 1987 but it doesn't make much difference really. In either case the shorties should get rich. But until dell reports I would be real careful about being short if today is the turnaround day that technically it looks like, at least at first glance.
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