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

To: Zeev Hed who wrote (7838)	11/13/1997 11:00:00 PM
From: Simon	Read Replies (1) \| Respond to of 18056

<< the gloom is so deep you can cut it with a knife,>> There probably are a bunch of margin calls going out. The pair thread was so bullish two nights ago it made a person ill. It was almost (hock the kids and get more money to buy pair with). But what do I know. I flunked kindergarden!

To: Zeev Hed who wrote (7838)	11/14/1997 11:41:00 AM
From: HB	Respond to of 18056

Zeev, they've bought the dips, they're out of cash, some are margined, and they know in their hearts things could go a lot lower. But I don't get the impression people have had to sell a lot yet. Whether it's a slow slide, or a lot of whipsawing, punk/suckers rallies, eventually their secret fears get confirmed, and those on margin have to start dumping. Then it won't be gloom... it'll be howling. Short term, maybe your observations indicate a rally attempt at hand, but nothing I'd go long on big. And I think there are big sellers waiting to sell into rallies.