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Strategies & Market Trends : Tech Stock Options

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To: Andeveron who wrote (52853)	9/16/1998 2:50:00 PM
From: AlanH	Read Replies (1) of 58727

Andeveron, re:Market Perception Alan, market perception is much more important than market reality. Enough people believed in it. There was enough speculation and positive spin on an interest rate cut that the market roared back over the past couple of days. Bears became bulls and the Kahuna thread turned into a go-go market rally gathering. Nothing has changed fundamentally in the world, save much market spin and tales of better times ahead. Once this fades, I believe we continue our downward spiral. Yup, perception is king. Yet I cannot help but feel that folks went along for the ride -- fully aware that the cover story was license to kill. As a by-product, sentiment and technicals have improved, ushering opportunity for further upside. Such processes encourage perception to shift so that in the end we question whether the FED just might lower rates. Of course, the situation is exacerbated by those "realists" which short into stronger hands. Moral of the story: let 'em eat. There'll be plenty of time to catch that downward spiral. In all honesty, I'm amazed at the magnitude of the swindle. BIG money. <g> Regards, Alan

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