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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (38579)	4/7/1998 10:47:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 58727

1030, wow. I was excited to see a message on a thread. I've been P-Mailing it for over an hour. Kinda botched it though. I think I inadvertently scared someone with a profit in SPX puts to cover. Oh well. I do put a lot into external media stuff. When AG seemed to be the last bear throwing in the towel I was stunned. Having Garzarelli proclaim is icing for me. But 1030 is a big reach. I mean, more power to Dave Plonk if it goes that low, but Markets generally do not do that. I think I earlier said they don't do that, but it's so rare it's incredible. As we saw last October....the market can certainly dive 550 DJIA points and continue to dive the next morning. But that market turned on a dime and came all the way back just as fast. I know I say 1060, but I'd be happy with 1075 or so. 1030 is a pretty radical move for the timeframe of a week, as I believe Dave Plonk has. Hell, if 1030 can be hit in a week, I'd be pretty shocked if it stopped there, to tell you the truth. Here's why. The market drops 10% in a week. This is plenty of time for it to "sink in" to Mom and Pop "I'm in it for the Long Term" investor. Like it or not, a lot of that money in there is conservative. Dropping 10% in a week will not sit well with these people, in my opinion.