Does anyone know what this was about?
Thanks, Sup.
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Heading the Bears Off at the Pass
By James J. Cramer
2/3/99 11:44 AM ET
Can the pattern be broken? Can the bears allow the market to lift? Or
must they try to smack it down one more time? Short of a Fed rate
hike, the bears must be feeling mighty punk. Other than IBM
(IBM:NYSE), trashed by its own bad quarter, and Lucent (LU:NYSE),
trashed by Cisco (CSCO:Nasdaq) on the call last night, they don't
have much to hang their bear hats on. But that's never stopped them
from pressing their bets.
You might think I am overdoing this tug of war; you would be Wrong!
Until you have traded these instruments, such as the MSH puts and
calls, you don't know what it's like. It's like putting a 300-horsepower
engine in a Kia. It just doesn't handle that well. It can go zero to 60 in
about three seconds, and then to 120 in another two. That means it
can't brake in time to avoid that Garden State speed trap. It means
wrecks happen.
I would love to see the bears make one more negative pass, maybe
even try to raid Cisco and Microsoft (MSFT:Nasdaq) or some other
3Com (COMS:Nasdaq)-like raid that would really get the bulls
shaking. Then we could roar. Otherwise, still listening to the Time
Warner (TWX:NYSE) call and sitting on my hands. Well, not really
sitting, more like typing. |
