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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (26782)	10/23/1997 8:45:00 PM
From: Alan Smithee	Read Replies (1) \| Respond to of 58727

Jerry: Take a *HARD* look at WSTL for me will ya???* What are your thoughts on WSTL at this point? Will we be seeing some announcements (GTE maybe?) soon????? David

To: Jerry Olson who wrote (26782)	10/24/1997 12:04:00 PM
From: Tom Trader	Read Replies (2) \| Respond to of 58727

>>Well my friend I think there are a lot of scared people out and about Hi OJ--I don't think that we are there yet--but we'll get there if this continues for a few more days. We still are seeing people suggesting that stocks are getting cheap -- and at really good bottoms, what we have seen is people not wanting to buy because they feel that stocks are headed lower. I am hoping that the market breaks below 7700 and heads rapidly to the 7600 level and may be break that -- that will change sentiment dramatically--and will offer good entry points. I think that the DOW could get to 7400 without any serious technical damage and a 50% fib retracement of the move from the July 96 low could take the DOW down below the 6800 level. The other possibility--if the market really heads lower--is that we'll see some tax-loss selling which will create some real values on some of the quality stocks that we have had our eye on for a while. The selling could accelerate as we witness margin calls. The semis-equipment makers are getting killed and I can't believe the levels that some of these stocks are down to; the SOX is well below its 200dma and that suggests that prices are headed lower. But, now between the semis, dd makers and the way things are headed may be another couple of sectors we should be able to enter at some fairly attractive prices. Hope that you are holding up OK.