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

To: Marconi who wrote (13305)	8/31/1998 10:13:00 AM
From: virgil vancleave	Read Replies (1) \| Respond to of 18691

Wish I shorted amzn or had puts. That head and shoulder chart was right. I think it is now at 96 and falling fast. Market internals started out ok, but quickly deteriated. The strong opening followed by weaker trends is very normal for a bear market, or at least that is what i have read in books. We are now entering into a bear market. Corrections are not 20 percent, bear markets are. Question is how far lower must we go? I keep thinking I should cash in my puts since we can't keep going lower, but then I think about how some stocks have just kept going down even in the bull market (ie oil stocks). I currently have puts on pixr and lhsg and am short a couple of stocks. sctr being one of them. My opinion fwiw, but if we break 8000 on the dow, 7400 is not very far away and I think we will hit it before Sept 10. good luck