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

To: William H Huebl who wrote (21778)	7/17/1998 7:07:00 PM
From: Gary R. Owens	Read Replies (1) \| Respond to of 94695

The happy shareholders approved by a wide margin a management proposal to increase the number of authorized shares of Dell common stock from 1 billion to 3 billion, Dell said. biz.yahoo.com

To: William H Huebl who wrote (21778)	7/17/1998 7:58:00 PM
From: James F. Hopkins	Read Replies (3) \| Respond to of 94695

No Bill; What the announcer on CNBC saying is 44,000 on the DOW being the next move "down" in 2000, it happens at 9:30AM Monday Jan 3rd 2000 as the computers roll over and every one looks at their stocks and find that they have gone up over 10x . Friday when the market had closed the Dow was right at $12,000 but opened Monday at $120,000 this cause a lot of profit taking, Just prior to this they had got the SEC to lift all triggers, so the drop from $120,000 to $44,000 was not checked until 10AM. It would not have been checked at that point except that traffic got so heavy the main fiber optic cable going from East to West coast melted, as it did traffic was switched to the back up cables, but they were much smaller and they tuned into long ozzing snakes of smoldering and melted liquid glass as fast as they picked up the load. By 10AM the only thing working was an old ticker tape machine that was hidden in a closet for just such an event. By noon the public was told not to worry, limited transactions would resume the next day for the large brokerage houses via phone lines, the market would just divide all orders received by a factor of 10, and would open Tuesday at 4,400 just like you said. When asked were all the money went from 12,000 to 4,400 they just shrugged their shoulders and said "well to them few that sold". Prior to the sell off the Market was worth 60 trillion dollars, after the sell off it was only worth 22 trillion, yet less than 5 billion dollars had traded that morning before the melt down. They explained it's just the way a market does if there is a fast run on it, don't worry it will go back up, but now people were really scared ...then the dream was over and I didn't find out what happened Tuesday. Jim