Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Brian Malloy who wrote (27389)	7/26/1999 10:09:00 PM
From: t2	Read Replies (1) \| Respond to of 74651

Brian, 60% cash on options expiration was a great move. Personally, i have never been as defensive or bearish in the past. I am also hoping for a bottoming on the current correction within a week, so i can at least trade stocks long----i am basically almost all cash in my retirement accounts and slightly "short" in margin account. My short trades are generally daytrades expect for some put options which i am holding. THe Nasdaq futures are currently up about 10 points. I hope it lasts til tomorrow morning so we get a rally at the open. I want to short a few tech stocks and cover later in the day. It appears to be the strategy that is working for now. The bounce will probably result in mostly a sideway market. Still better to be bearish in the short term (3 months), IMHO. However, one has to invest retirement funds and picking the bottom for the rest of the year is going to be tricky. IMHO, the market looks gloomy at least until September. No point trying to make money on call options. Puts and shorts are a safer bet if you have a 3 months time horizon. Again the current wave of selling may end temporarily within about a week. Just guesses of course but judging investor sentiment is really the key for the balance of the year. The collapse of the net stocks is my signal for an extensive selloff in the general market in the coming months. Best of luck.

To: Brian Malloy who wrote (27389)	7/27/1999 12:51:00 AM
From: ed	Respond to of 74651

Good prediction, but only GOD and AG can tell !!!!!

To: Brian Malloy who wrote (27389)	7/27/1999 12:47:00 PM
From: johnd	Read Replies (1) \| Respond to of 74651

Brian, Thanks for the detailed post. It was informative and insightful. What will be interesting to me is to see if 1999 follows 1998. If it does, we could see an yearly low on all indices in late August to early September. Wall street might use the 9999 - Y2K issue as excuse for the correction. The statement from Greg Moeffi at the Q&A session that MSFT kept the put strikes to 64 - 65 range is an interesting observation. Tells me where he sees the downside floor to MSFT stock price. I don't see it will get that low. But in a severe correction it could. Of course I will be a heavy heavy buyer under 70, if it gives me the opportunity.