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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: OldAIMGuy who wrote (5495)	9/1/1998 3:58:00 AM
From: Bruce A. Bowman	Read Replies (1) of 18928

Hi Tom- Some of those persistent top performers took their lumps today, didn't they? amazon.com closed at 83.750 I believe. That's about 53.750 pts. in 4 days or about 40%. Yikes!! Talk about some overhead to work through to come back. EGRP is down 35% in the same number of days, though the erosion started even before that. It's down 44% from an intermediate high 13 trading days ago. There's some serious technical damage to repair before many of these favorites are going to fly again. All this thrashing is doing a good job on the IW, painful as it is. The crystal ball stuff I play with once in awhile is not being very helpful... or at least it isn't saying anything I want to hear! :-) If I had to guess, I'd say that if INTC is representative of the semis as a whole, then they're in for another couple days of ugly. No clue where other sectors might go. For my part, I'm pondering how to handle my poor planning for this event and am wondering if I should close one or both of the 2 positions that are as yet (sort of) undamaged and prop up the (no longer walking) wounded, or if I should just continue my "wheat farmer" approach of doing almost nothing 'till the next harvest. I can see the potential for some profits, but because of the damage it could be a very long while before it comes to fruition. One thing about all this, some of the inflated PE ratios have gone thru a crash diet and are looking a little more lean! :-) But I really wasn't expecting the RUT to get killed quite as badly as it has... off almost 7% today alone. Guess it's the old risk/reward thing, isn't it? Bruce

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