To: Judy who wrote (15597 ) 12/14/1997 3:55:00 PM From: Jerry Olson Respond to of 50167
Hi Sweets, whatcha doin'? huh?<g>... I think this one of the few times we agree on the market..Yes I know we were both bullish for almost the whole year..Albeit I was Nuttsy as per usual..ah more like extreme<ggg>, of course what the hell, nothing new there right???...:>}... But Judy my costal friend and cohort, i have a very negative feeling and negative forward looking view now, then ever before...I was thinking and looking on down the road...Geez i don't like what I'm thinking and seeing, AT ALL!!!!! Yes I'm probably over exagerating my current position, but I don't think so...The Tech Wreck IMO, is just at the tip of the Ice Berg... And i don't think ANY Co doing BIZ in Asia is immune to it's potential devastation to Corp Earnings....This single factor will kill this market for sure...I actually can see a rally coming because of enormous money flows into the market, and shrinking shares as well... BUT!!! the fallout from this on going debacle in that sector of the world I think will spill over into Europe and ALL areas of this Globe...with potential devastating ramafications... I don't think the current IMF package is large enough to help Korea...I think Japan will fall into a serious recession/depression of major magnatude...others countries in the region are potential bombshells waiting to happen... I feel the semiconductor industry, from the top to the bottom will suffer a bear market a major porportions...Everyone is saying that Asia is ONLY 9% of the Global buying of these products...I say BULL!!! There is far reaching reverberations around the world economies yet to be seen...This will be a snowball effect not seen in many a year... The short side is where to be, and HAS been where to be...Selling calls and buying puts makes a world of sense to me...Kiddo<g>... I fully intend to continue to play the short side into every rally, until i have confidence things are turning around, and not a head fake...I don't care either Judy about bearish sentiment being a contrarian indicator...who really give a sh***!...things are ugly and going to get much uglier during Jan earnings... I do NOT see a bottom in the techs, I don't think anyone should buy now, and i still think blindsides are the call of the day, not the other way around...There is a potential worldwide tech meltdown in every single nook & cranny of the sector....anything pertaining to semiconductor, DD, circuit boards, other technology related to the boxmakers et all, etc etc etc, will be beaten to a pulp in the coming months...IMO.... Nancy said to me the other day, "it aint over yet"....how true that was...By selling calls and buying puts I recouped in less than 30-60 days 1/3 of ALL my losses since August...It's just a shame I don't listen to good<g> :{...but Judy my sweets, I DO LISTEN!!! you know what??? better late than NEVER!!!! I'm not buying for the future now till I feel better about this scary situation...People could buy stocks because they look cheap, and have to sit with them for 2-3 years....there will be a better opportunity on down the road to dip our beaks into the abyss...I can garun-damn-tee ya that!!! Yes I think AG will begin to think about lower interest rates when the country slows dramatically next year...and yes that may help the markets rally, but IF Corp earnings are suffering, it will be a market of careful stock selections, and not a Stock Market of throwing Darts... There is a lot more dynamics going on here, but things have been SO Rosey here in the US, i think it's time for the OTHER side to play it's ugly hand...we can and should make money in any market, but I think it will become exceedingly more difficult to do so... Anyway just some thoughts on a Sunday while I was watching Damn Eagles getting ready to LOSE!!!!! I'll talk to you, my dearest, I have a lot more on the subject...Jer