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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: velociraptor_ who wrote (896)	9/11/2000 7:07:34 AM
From: Smartypts	Respond to of 37746

From: Options Jerry Saturday, Sep 9, 2000 12:34 PM ET MOrning IKe and all.. just some thoughts on a Saturday here in beautiful Philly<g>.. the markets are currently trying to discount the slowing of the economy...imo...just like we discounted the rate hikes.. i believe corp profits will be hurt somewhat, and that market sentiment is changing now to a bearish outlook for the next 2-3 quarters... this past quarter was steller in all areas of tech..but warning signs ahead say that will change...up to this point with rates hikes now on the sidelines, we now turn our attention to profits and revenues... since the markets a discounting mechanism...i see a slow move lower into macro cycle lows in October once again...and unless the price of OIL begins to move lower quickly here, i also believe this will be a negative going forward in many sectors that depend on it for their fuel supply..it has to hurt the bottom line... retailers are all ready warning, and some of the bellweathers in the INDU are too...i foresee some major profit warnings in tech coming these next few weeks....with, earnings annoucements about future quarters flat to down...and many stocks will move lower in sympathy with sector slow downs... i still feel what ever the Oct/Nov lows will be, it is there we can and should take longer term positions...for now i would stand aside till then...plenty of time to "invest" in those excellent companies that will rebound the fastest as we move forward in to 2001... Ike the markets never cease to amaze and delight me...i feel i can hazzard a guess about all this and feel confident of what i see just ahead... as the current sentiment wanes, we will then be looking forward to a rate cut<G>...thats when the markets will take off again with a vengence...all in all...see/saw city in my mind...but business as usual... i was short the semis last week...and still holding some puts that are well into the money right here...they are not done correcting just yet... anyway, just wanted to say hi to everyone... fall is in the air here, i love the change of seasons... my regards to the family...both here and yours<VBG>.. OJ

To: velociraptor_ who wrote (896)	9/11/2000 7:52:16 AM
From: Sharck	Read Replies (1) \| Respond to of 37746

Good stuff Vel, NAZ futures are suggesting the mkt isn't too impressed with OPECs planned increase in production. cme.com I have been stricken by a nasty bug and not even my first pot of coffee and a hand full of echinacea seems to be have much effect. Heading back to bed with my water bottle, back at open…. Hold TECH SS with wide (two-three) pt trail stops all around. Start looking for the next lower support levels on the stocks you follow as NAZ will slip further. Seems 3850 was talked about, does sound right Velo?