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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Shelia Jones who wrote (2396)	9/1/1998 7:39:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Shelia, thanks for your SCTR watch. Since it looks like MM's playing around again, I like to believe they know exactly what they are doing - they want to create a buying phenomenon and sucks in eager buy-on-the-dippers and then push the buttons when it reaches about 28 or when the market turns sour again. Since the intraday chart does not show any strong volume spikes, I would assume they start buying at 23 all the way to 27. Don't believe they actually know something about the earning. However, if it can successfully close above 28 1/2, I would become very concerned and will push the button myself. While LT thinks this rally can last till next week, I think tomorrow will be another big swing day but it may not close up. I looked over my watchlist earlier and confirmed what I was thinking earlier - that this rebound is selective and not really broad base. The recent darlings like internet, pharmaceuticals and DELL did not gain back what they lost yesterday. Only the system software and companies like CA which were already hammered prior to yesterday did gain back what they lost yesterday. While still early, this may be the first sign of bottom fishing for the ultra-compressed during rebound days. If the selloff continues and rebound happened a la the drillers in Dec 1997, then we may see selective pops from various groups now and then while the darlings shoulder the bigger loss. Just a thought now as no one knows how things will play out. I am not worried about today's rebound. I added HD and JNJ to my tray of put. This is to be expected. However, if anyone is concerned, the strategy is to think capital preservation. With all the easy short money gained thus far, set a dollar figure you want to keep and stick to it. Treat the extra as house money. In this case, your profit would be protected. Personally, my capital (as of last month balance anyway) is earning money market rate. All my current puts are house money.