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

To: yard_man who wrote (16690)	4/16/1998 5:23:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 94695

Less than one month away from the BK? What if like in 1929 the economy first turns sour...and then the market finally capitulates--quite a few months after the recession has begun. Of course if the economy does not sour for several years, the market could continue up to a PE of 30 and then just turn very volatile. Good trading tho. It took me a couple grand to finally learn my lesson, valuation means nothing in a market like this. It is silly to say some- thing is overvalued and rush out for some puts. That's why I mentioned Amazon--sure it is waay overvalued, but it could also lose market share fast to Barnes and Nobel etc. Sure these internet stocks will die someday, but you cant know when, in the meantime, eee gads, how much money I could have made if I had bot a few XCIT April 45 calls, rather than the crummy puts I got awhile back... I think Excite was up again today, yup another ten percent. Madness.