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

To: Bill Holtzman who wrote (29690)	9/17/1999 4:10:00 PM
From: Teflon	Read Replies (1) \| Respond to of 74651

Yea, we closed at 96 7/16...what a week! Teflon

To: Bill Holtzman who wrote (29690)	9/17/1999 4:40:00 PM
From: Teflon	Respond to of 74651

Well Bill, the Street taught us some valuable lessons this week. The selling (along with the suspect lack of buying) in the early part of the week was a clear signal that positions were looked to be closed early in the week with respect to options expiration. Moreover, with a panic stricken individual investor sitting on the sidelines trying to figure out which way was right vs left (considering inflation and interest rates), it also wasn't a bad time for the institutions to start establishing some long positions before anyone knew what hit them. Consider all the rumors in the early part of the week concerning QCOM issuing an earnings warning, the Fed raising rates in October, and so on and so on. Then, presto, as we head into Friday we have all the talking heads saying that there isn't any inflation, AJC gives a speech stressing the fact that there's no inflation and it doesn't matter what the Fed does, etc... That's my convoluted explanation for what happened this week! Remember folks, *the street makes money by churning trades not facilitating investment*. This week was a prime example. Also note that this was the second month in a row that the Market traded like this during options expiration week. Going forward, I suggest everyone keep a close eye on heavy selling during the early part of expirations week as a clear signal that the Market will most likely recover by Friday. If you look over the past 6 months of trading you'll see this pattern. Just a few observations as we head into the weekend. Enjoy everyone, I'm off to celebrate a terrific week!!!!!!! Teflon