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Technology Stocks : Micron Only Forum

MU 236.48

+2.7%

Nov 28 9:30 AM EST

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To: Knighty Tin who wrote (37916)	8/28/1998 4:25:00 PM
From: GuyNixon	Read Replies (2) of 53903

MB: Want to know your opinion on the market trend. I know you have cash in some of your puts lately, although still keeping 1/3. But it seems to me that the market's psychology has experienced a rather permanent shift. Instead of "buy the dip", it's now turning the "sell the rally". I used to hear people saying things like: "I will buy CPQ when it goes down to 25, etc" Now I hear people saying that, "I will short CPQ if it get pass 39, etc" More and more people are talking about shorts. And I just don't see how the market trend can be reversed with a sudden dead cat bounce (unless the Fed lower the rates) IF loans to Russia proved so epidemic to banks, what will happen if Latin America fail? And the Dow 8000 mark is important to many small fund holders, if the current trend continues, it won't take long before their 1998 % gain gets wipe out. They will start to cash out and increase the speed of sliding. Since the circuit breaker rule has been changed, we may lose eventually 900 points a day. Only then, there may be a reasonable dead cat bounce. So is this the time to buy short term out of money puts on things like MSFT or the net stocks?

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