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.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (28549)	9/2/1999 5:49:00 PM
From: Lee Lichterman III	Respond to of 50167

I have been busy all week so I hadn't reponded but I was lurking <g> Just thought I would contribute my read. I just replied to an e-mail and this is what I wrote my trading buddies. The trade refers to a stupid move I made yesterday going full hog short yesterday on Bond and Dollar action despite my own system showing the likely direction was up. That was the stupidest trade I have ever done but it worked out for a nice gain so I won't beat myself up too bad. <g> I think if this report tomorrow is not thermo nuclear bad, we will rally for the next week or so. I show us extremely over sold and there is a pile of inflow money sitting on the sidelines with no where to go. If there hadn't been this report tomorrow before the open, I would have thrown everything I had at out of the money OEX calls and gone to sleep. The Bond is very bearish but I think the market will ignore it while some irrational exuberance takes over. <ggg> My upside targets are much higher than most people but I think the strength the last few days in the face of all the bad news has cleaned out the weak and now the market is ready to be led to the slaughter. I still believe that mid month to late month will be another decline after a strong rally. The drop will probably be caused by the PPI and CPI report and the report will look bad due to the lagging nature of it showing higher oil, tobacco and food. I do think however that the Fed may not tighten since the delay in the last tightening will take time to see how it is working so they won't risk over doing it plus Y2K slow downs etc. When they don't tighten, it will spur another rally that will help us recover from the mid month decline. Good Luck, Lee