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To: Zeem who wrote (10150)6/15/1999 9:59:00 AM
From: Jenne  Read Replies (1) | Respond to of 19700
 
Not exactly.. bouncing like a trampoline.. I suspect we will dance around 71 but for today at least.. til 3:30 at least.. we should be mostly above it or NOT.

A High-Stakes Market
By James J. Cramer

6/15/99 9:46 AM ET


How high are the stakes this week? All I can tell you is that I have done everything from looking into Placer Dome (PDG:NYSE) and Kinross (KGC:NYSE) to buying out-of-the-money June calls on financials. I want to be ready, maybe even jump the gun a bit with a play on volatility.

The incredible thing is the extreme nature of this market. I never buy gold stocks, but if the wrong number prints, I will make money in Kinross and Placer Dome. If the right number prints, I will make money in calls on the banks that expire this week.

Rarely have I seen such a wide swing in possibilities in just a couple of days. The right consumer price index number plus the right talk from Greenspan -- tightening, but not too tight! -- and we know this market can roar given the newfound negativity. The wrong number, though, and the migration out of the dot-coms to the Phelps Dodges (PD:NYSE) and the International Papers (IP:NYSE) will lead to an exodus toward the golds. Frightening dichotomy.

Meanwhile, as I write this, some shirtless joker is on CNBC pushing a dot-com.

Well, that about says it all.