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To: drsvelte who wrote (2150)	8/26/1998 8:40:00 PM
From: Thean	Respond to of 14427

Doc, if you are on vacation, stay away from that CNBC box for god sake. Go away and rest your mind. What you should have done is to set stops on all your positions so if some drastic events happen which result against your positions you are protected. I learned a big lesson there already last year. Will wait for your analysis when you come back. NKE has tomorrow as the confirmation day but the pressure is really on them now. Your shorts are safe on this one I believe. As to bank stock, you are right on. It is the sentiment that counts and any hint of Fed easing can spell big trouble to the financial stocks irregardless of LT or not LT. They can recoil like a spring. As to the analysts, they are by nature optimists because they are paid to be that way. It is extremely hard to be a permanent bear and expect to survive in the industry. Therefore, I would just ignore them as being bias. In addition, you heard that on CNBC which needs to always maintain a bull slant. Remember how they always reluctantly say "congratulation to the shorts if you are short" during bad days. The way I look at it, if SPX does not break below 1056-1065, I am closing out all my puts except those stocks which are technically broken. I will not fight the tape. It takes a Clinton resignation or Fed raising interest rate or Yelsin assasination or something really big to trigger a doom day LT. LT - I would really like to short something like DELL but it is on a mo-mo and is indeed being chased by almost everyone who want to go long the market. Think of it as the opposite pole to the drillers where people are just sellling for selling sake. I can understand why DELL is a buy for buy sake. The money inflow has not dried up. Where do you think all the cash is going to go? I don't think there are sufficient short funds to suck up the cash. Diamond - your old habit dies hard. <Gg> Please use a single post to post to all. People do read them, unless they are too numerous to be of significance.