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

To: larry who wrote (12002)	7/24/1998 5:22:00 PM
From: space cadet	Read Replies (1) \| Respond to of 18691

larry, good move picking up dell calls cheap today. Wish I had done that. Instead I bought some not so cheap calls yesterday when dell was 107. I have a feeling I may get another chance at cheap calls on Monday, especially if asia panics over the weekend. I agree with you that if all goes well csco will lead and then dell. My concern is that I see msft and intc going nowhere for at least 2 months, maybe longer. And this market looks so so tired. A month ago this same market made an explosive comeback, lead by Mr. Softie racing from 84 to 117. I think this market is on its last legs here, and despite how great csco and dell are I'm not sure they alone can keep the bull moving. I hope so, I'm in now for better or worse, but technically this market is extremely questionable. I think the first two days of next week are crucial. If they are negative, then I think the correction of '98 has started and probably dell and csco have seen their highs for the next few months. I'm not betting that way, but it is a realistic possibility. Despite how great csco and dell are, they aren't msft and can't carry an entire market on their backs. Let's see how monday progresses... If monday and tuesday are down I may start buying puts. There's a lot of second and third rate internet stocks that have a long way to fall one of these days...