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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: space cadet who wrote (9637)	11/13/1997 4:48:00 PM
From: Joss	Respond to of 94695

Hi Space, Perhaps I am wrong, but 2% up on MSFT and 4% up on INTC do not seem like large moves compared to what they have given up since the highs. I think the volatility is more in evidence than an indicator of highs to come. BWDIK? Steve

To: space cadet who wrote (9637)	11/13/1997 5:00:00 PM
From: Bonnie Bear	Respond to of 94695

Space cadet:When I can see this many companies whose obscenely high valuations are scarcely untouched, I think you haven't seen the real correction yet. There's a lot of stocks with earnings warnings that went screaming up today. Sit tight. If you're really worried about it cover a short and go long on something, but I think you'll be making a big mistake. This banking collapse is an onion waiting to be peeled.

To: space cadet who wrote (9637)	11/13/1997 6:32:00 PM
From: Joseph G.	Read Replies (1) \| Respond to of 94695

<<the greatest up day in american history. Dow 10,000 in '98?>> learn history: there were over 10% up days. Two of such <<the greatest up day in american history>> will give you 10k by Tuesday. Joe

To: space cadet who wrote (9637)	11/13/1997 9:10:00 PM
From: Gary Strike	Respond to of 94695

From a popular book, Martin Zweig's "Winning on Wall Street", I wanted to type a paragraph, in order to reinforce my own convictions after today. I don't think Martin will mind: <Now people begin to get a bit nervous and the pessimism slowly rises. It takes numerous sell-offs over many months before the pessimism really picks up speed. At some point in the midst of a bear market, business conditions worsen and the pessimism grows and grows. It finally reaches the depths of pessimistic thinking when business conditions are terrible. Then we're right back to the beginning of the cycle at the bottom of the bear market, when pessimism is at a peak.> Since there is nothing to push this market forward, this bear seems to have a long way yet to roam.

To: space cadet who wrote (9637)	11/13/1997 9:55:00 PM
From: Tommaso	Respond to of 94695

Stay short with stop-loss cover orders to protect you on the upside if you are not diversified and not well margined. Incidentally, the overseas markets do not look strong at 9:46 EST. The safe way to short the market is the Prudent Bear Fund, BEARX. See numerous posts on that. The assumption that there is a ten percent correction every six months as the market goes on to infinite glory is probably risky. That is, the market has been known to go down 40-60% after as long a rise as it's had (7, 10, 15 years or even more) No one knows which way the market will go. When stocks are as overvalued as they have become it probably will not pay to own them.

To: space cadet who wrote (9637)	11/13/1997 11:49:00 PM
From: Investor-ex!	Respond to of 94695

S.C., Today's action in those three stocks was a blip, look at the charts.