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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Franco Battista who wrote (7400)	11/21/1997 10:22:00 AM
From: vegetarian	Read Replies (1) \| Respond to of 9285

I agree, the market is appearing to ignore many recents events which would be hard to justify as favorable to the market. Possible reasons are options expiration pressure and 20 new IPOs coming out today, but I know that is not all the reason. Since this bull has been existing for such a long period, I guess we probably should be expecting this type of market reaction along its path to a serious correction. Would be interesting to see if all the stories like AOL CTXS keeps on getting more over valued in the next week after expiration, that would be an indication of reincarnation of irrational exuberance and the shorts will have to just hold longer for the next blip.

To: Franco Battista who wrote (7400)	11/21/1997 10:40:00 AM
From: Don Westermeyer	Respond to of 9285

Franco, That was a great post. One thing people don't seem to consider is where Japan is going to get the money to pay for all those bad loans. I think once the answer comes out the market will wake up to reality again (for a few days at any rate). I'm not a big fan of the 'bear market' scenerio, but I sure can't see the markets moving significantly forward for the next year either. Volatility will probably make it a trader's heaven though.

To: Franco Battista who wrote (7400)	11/21/1997 10:51:00 AM
From: Jon Tara	Read Replies (2) \| Respond to of 9285

"What is strange is that this market is closing its eyes to all kinds of bad news lately." And in a bear market, the market closes it's eyes to all kinds of good news. What's good for the goose is good for the... bear?