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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (13671)8/31/1998 5:22:00 PM
From: Cube  Read Replies (1) of 120523
 
Jenna,

Boy you are something. Even when you don't know what to do, you do the right thing. This day reminds me so much of that Friday in October of 1987. Same percentage drop as today, and everyone was talking about picking up the bargains on Monday. On Monday, the S&P futures opened lock limit down and did not trade for a while. Day ended down 508 points which at the 1987 level of the Dow, worked out to a 23% drop in one day. The same percentage drop would be Dow 5850 for tomorrow. While that would make you a hero if that happened, you would age 10 years for those first 30 minutes when none of the S&P futures trade due to lock limit down.

You did the right thing. I have NEVER had your instincts for daytrading, so I trust you'll pick a good entry point and ride tomorrow's extremely volatile day.

Cube
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