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Strategies & Market Trends : Waiting for the big Kahuna
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To: Arik T.G. who wrote (34725)12/1/1998 1:47:00 PM
From: Bull RidaH  Read Replies (4) of 94695
 
Arik,

Thanks for that reply. That strategy makes alot of sense, and should lead to obscene profits no matter how fast this thing tumbles.

I've got a projection on MSFT up to the 141 area, so I'll probably hold out for that number, or 1192, whichever comes first. Your concern about the price reversal down being so strong that we may fail before we regain the highs is well founded. At this point, any close below 1150SPX should be viewed as confirmation that the top is in. Once that occurs, all rallys should definitely be sold. Otherwise, i'm playing this rally with kid gloves and with about 1/3rd of buying power.

Regards,

David
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