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Technology Stocks : Veeco Instruments-Who?

VECO 28.56

-1.9%

Dec 31 3:59 PM EST

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To: Zeev Hed who wrote (1470)	8/31/1998 8:36:00 PM
From: Carl R.	Read Replies (1) of 3069

How long will it take the Fed to intervene by pumping in reserves? I am thinking they will let the dow fall to 6600 or 7000 first. I have serious doubts about your 500 point rally, however. I think the general public is spooked right now, and the professionals have seen the TICK at -1400 too many times without a rally. Right now the Tick reminds me of an old Volkswagon Van I used to own - in the winter many times when I stepped on the gas pedal (a clip would fall off and)it would just lay on the floor and do nothing. <VBG> Actually I think a down 1000 point day isn't impossible, but another -100-150 day is more likely. I do agree that a rally is inevitable, and that it can't just go straight down, so I will probably close out my S&P puts soon, or at least trade them down. You always project a change of direction for Wednesday noon, so I presume that I should close my puts on Wednesday AM? Carl

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