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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (6528)	10/29/1997 10:36:00 AM
From: Joseph G.	Respond to of 18056

Pete, whatever it does, the overall path of action is clear: raise cash, should there be a rally, and VIX comes down, could establish some moderate speculative put positions. Recent events underscored that the "new era" of ever rising stocks with no downside risk is crap and bullsh8t. There is volatility up, and there is down. The sharp upmoves are not because there is a free money machine hidden in NYSE, but because of speculative buying by traders. And, there are sellers too, when time comes. Valuations are much too high even for best case scenario, so now is no time to buy and "lock it up for kids". Joe