Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: BubbaFred who wrote (462)	8/20/1998 11:50:00 PM
From: lib	Read Replies (1) \| Respond to of 7247

Bubba; tremendous support level for the dow around 8100. it will not go further than this for the year.

To: BubbaFred who wrote (462)	8/21/1998 11:30:00 AM
From: epicure	Respond to of 7247

I am short VECO and MU. Was looking for twenties and they are both there now. Covered 3/4 of my MU puts this AM, although I think it goes down further. Short AMZN and MSFT (because of DOJ business) via puts. Didn't pick a particularly good entry on the MSFT but not worried about it. I will be buying after I see what happens next week. Will share my selections with you if you like. I think oil is near a multi year bottom. Instability in the gulf (like terrorists, or hostillities) will cause oil to go up. I had a paired trade short DAL and long drillers. So far only the short has paid off.

To: BubbaFred who wrote (462)	8/21/1998 12:47:00 PM
From: epicure	Respond to of 7247

I went shopping- couldn't help myself. It may or may not be an intermediate bottom, so I bought Leaps. Bought PEP, CPU, TOY (my favorite). I already own stocks in the telcom sector, but you are right that its a good place to be. Growth there is great.

To: BubbaFred who wrote (462)	8/22/1998 7:53:00 PM
From: BubbaFred	Read Replies (3) \| Respond to of 7247

IMO, we are in a correction, going to a bear market. Expect good sharp rallies next week, to be followed by more volatility with a down trend. Lows will be in late September or mid-late October. DJI below 7000 and S&P below 950 are likely. If this scenario doesn't occur, it will be a very bad and wicked 1999. The longer a correction has to wait, the more severe the correction will be when it does occur. Asian and Russian crisis have spilled worldwide. Watch DAX, CAC, and London markets. Listen to the bond market. Currency devaluations will become a fad. Look at the stock markets worldwide. I am going to 90% cash on rallies and will look at bargain galore in October - November, or maybe bargain basement shopping next year. In the meantime, I will be nibbling, and hold for 2 weeks maximum.