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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Big time Mona who wrote (482)	8/8/1999 11:36:00 AM
From: gerard mangiardi	Respond to of 19219

Isold most of my stocks last week because this sell off seems different than the ones we have seen the last few years. There was no follow through from thursdays bounce on friday and too many stocks are being hit hard for no apparent reason. i shudder to think of the money lost on the nets and the level of margin calls that are outstanding right now. What if msft has to get broken up? I think the initial reaction will be a 10 to 20% drop in its price adding to the level of margin pressure that already exists. Don't know whats going to happen in the next few weeks but right now my feelin is bettter be safe than sorry. With the amount of margin pressure already in the market any additional hit in a widely owned sector will be devastating.