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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (16467)10/7/1998 8:30:00 PM
From: Electric  Read Replies (2) of 42787
 
dennis,

And to think I nearly sold my DELL and MSFT puts. I am happy for limits in those cases. My puts are so far in the money that there is zero premium. In fact in a fast market there has been negative premium.

Interesting note from Judy about DELL at 35. I would not be suprised to see us slash to the mid 40's tomorrow, DELL is being dropped from everyone and for reason that I think is very undeserved. Be prepared to jump back on, it will rebound like no other. I expect that by Nov earnings for DELL it is poised to run very hard and will. What would be extremely ironic is if DELL holds back earnings since it is likely to do little for the stock in this sell-off. That is pure speculative garb though.

For now, I have no faith in a turnaround. Today we had futures up over 15 (last night) and still the market is doing nothing. It will take the FED easing before next FOMC meeting to maybe make a bottom, and that is a huge maybe.

One way or the other valuations are being forced to come in line. No more looking out three years to have good PE ratios, it is now.

The internets are starting to fall on their faces. No stock that has a high PE or does not give the market reason to believe in their present and future earnings is being spared.

This artificial DOW propping is getting old too, anyone notice at the end how it felt sticky? It did to me anyway.

The key is to pick stocks that will react upwards when this is over. There are plenty to choose from IMO.

Just a few opinions.

edit) futures down 7 already...
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