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

To: IQBAL LATIF who wrote (12846)	10/27/1997 12:11:00 PM
From: Bart	Read Replies (1) \| Respond to of 50167

Looks like another classic bear trap Ike!

To: IQBAL LATIF who wrote (12846)	10/27/1997 5:43:00 PM
From: Taqi Hasan	Read Replies (1) \| Respond to of 50167

Ike, Hope you covered your naked 870 puts! Man, it was brutal today but lots of fun to watch when you are sitting mostly in cash. You only get to see history being made once in a lifetime. I expect a down open tomorrow, people didn't have a chance to dump before the market opened. The institutions started dumping after the market repopened at 3 PM. The buyers are still not scared, so we still have some ways to go - the EPC ratio was only 1.15 less than it should be to signal a bottom. Regards, Taqi

To: IQBAL LATIF who wrote (12846)	10/28/1997 5:45:00 AM
From: AlienTech	Read Replies (1) \| Respond to of 50167

Wrong! Dispatches from the Front: Cramer Expects More Selling Tomorrow This is the guist of his story.. What really got things going, what was the equivalent of throwing gasoline on an orderly fire -- if there could be such a thing - was the Barton Biggs' call from Morgan Stanley Dean Witter. Personally, I am not a huge Biggs fan, having seen and heard him be too negative and too emotional too many times. He did not give his brokers a good insight into what the call was to be about and frankly, some of them thought he was going to be bullish, recommending bonds and therefore, stocks in the long run. What a set-up for the bears! This was the call from hell. The imagery he summoned: Berlin in 1945, the U.S. in 1929, the long-awaited bear market, positively freaked out everybody imaginable on this call -- and the number of hitters on this call was beyond comprehension. What he really said was that the world would now slowdown because of the turmoil in East Asia and that a protracted bear market may or may not be beginning. Nobody heard the "may not." What they did hear was that Biggs said the exit would be too small, so get out now. What happens now? As ugly as it was, we did not get a crescendo. In 89 and in 87 we had stock imbalances, massive trading stops, fast markets, total disorder. I know this will sound amusing to anybody who has just been trading in the last five years, but Monday was too orderly, not enough panic, and it left us with the averages still way up for the year. Tuesday should be different. Tuesday should see those imbalances and those frantic attempts to get out at any cost. Tuesday we should see real institutional selling by those fearful of losing their whole year's worth of profits.