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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (11611)	7/17/1998 9:00:00 AM
From: Joey Two-Cents	Read Replies (2) \| Respond to of 18691

Pete, The market is in a state of euphoria over the prospect of a new prime minister in Japan, the $ 25B bailout of Russia and the better then expected earnings (after numerous downward revisions)news. The market ignores the signs of the economy slowing, the seriousness of the Asian crisis (and impending Yuan devaluation) and the inevitable collapse of Russia. Also, the Slickster is at a turning point (if the Secret service is forced to testify, watch for Starrs firing) and we have to look forward to Y2K and an unprepared world. Last month when GM was $ 75 I bought some Nov 70 puts. 6 weeks and $1.4B in losses later the stock is still over $ 70 with no signs of a settlement. YHOO hits $ 215, AMZN triples in a month, EGGS doubles in a week. Up is down and down is up. Time is the great equalizer.