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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Tom Hua who wrote (17164)1/21/1999 1:44:00 PM
From: space cadet   of 18691
 
Hi guys, nice day isn't it? Actually, I am still expecting/hoping that the usual Nasdaq suspects (dell, csco, lu, msft, etc) still have another couple of weeks to trend higher. After that I think they will join the internuts in a pretty healthy size correction 10-15%. The internuts of course will correct much more than that. I think the days of one stupid informationless press release causing a tripling in your stock are probably over, at least till the next internut wave. I also think that the yhoo amzn ebay inkt falls show that it was only the traders playing these stocks in January: they had simply outrun prices that their fervent supporters on the internet could buy at. I mean, who except day traders was buying yhoo in the 300's? If yhoo comes back below 200 it will regain its many many enthusiasts and have a lot of support there. So these stocks will tumble but they will never retreat to a "value" level. Plus they probably will have a couple of bounces in the next few weeks before they reach bottom.

Tom and everyone: any good put candidates left? I looked at egrp but the put prices were insane. Probably should have shorted calls but that does tie up a lot of capital, but maybe that's the only way to play it. Or just go short maybe. Anyway I'm expecting a decent bounce starting this afternoon or tomorrow and continuing thru monday. Next couple of weeks should be bumpy with lots of ups and downs and then a big down come the end of Feb or March.
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