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To: Thean who wrote (960)	7/7/1998 6:06:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 14427

Thean: I bought Sept Calls on all my shorts this morning. This mkt looks nutty enough to make one more speculative burst before the end. This is not unexpected. Those that like to trade, have fun! It should be a real gut buster UNLESS the NASDAQ doesn't hit a new high. If the current double top remains... all bets are of for one last rally. I did add a new short to the list: BERW. What do the tea leaves say? -Lucretius

To: Thean who wrote (960)	7/7/1998 6:29:00 PM
From: bw	Read Replies (1) \| Respond to of 14427

<<Have no desire to trade in either direction. How about you, bw?>> No desire here either. Still in cash for now. This is one unhealthy market when the fundamentals are thrown out and momentum traders take over. I think the "big bang" is going to happen in due course to these overblown stocks with extended PE's; and a 20% across the board correction will happen before the end of '98...When? Who knows... Good trade-out of VRC for you yesterday, and I hope that you don't ever meet that MM working the damn tower stock in a dark alley [probably where he prospects for clients] some night. He might just be armed & dangerous...<g> And thoughts on current status of OSX: R.I.P

To: Thean who wrote (960)	7/7/1998 7:25:00 PM
From: drsvelte	Respond to of 14427

Thean and all: This was a great trading day on the Internets. Many of them gapped up significantly (altho DCLK did not) and then retreated pronto. I put a market order to short sell NETG when it was 32 and got filled at 29 (I use DLJ and am moving more of my account to Datek - DLJ has been terrible on limit orders on fast moving stocks) and covered at 26 in about 30 minutes. DCLK crashed 14 points so it was a very good short too. ggg! I think tomorrow they may bounce up initially because of the big selloff today and the anticipation of YHOO earnings and split. They are definitely worth a look see. Altho MOT beat their estimates, the CC was apparently not too upbeat about the next few quarters so there may be more weakness in the techs/semis. The market had a weak close, IMO. The drillers are sad to watch. Last I checked oil futures were down .30. More pain I'm afraid.