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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (2336)	9/3/1998 7:21:00 PM
From: Peter V	Respond to of 4634

I put a limit order on FP yesterday and didn't fill, did it again today but had to go away from my computer during the close so I didn't get to convert it to a market order as it didn't fill. Kicking myself for it, but tomorrow may be a flat market day due to long weekend. I looked at the FP Yahoo thread, it reminds me of the short rhetoric you posted the other day (and I pasted into my post today on Pink's thread). It's like they quoted it! Amazing. Look for individual investors to freak out after they assess their portfolios over the weekend. The question is: Will they sell or buy the dip? As for the banks, I'd wait for a couple of months. I really don't think Asia and Russia and South America have shaken out yet, and 3Q earnings don't look good. Although I don't always follow my own advice (bought RIG at 33 on its way down, now seems like a turnaround at 25) it's better to wait for the turnaround rather than try to pick the bottom or top.

To: Bill Wexler who wrote (2336)	9/4/1998 7:25:00 AM
From: Peter V	Read Replies (3) \| Respond to of 4634

Bad banking news from overnight. It's Japan, but I'm worried about the ripple effect it will have on US banks that have overseas loans or other connections, like derivatives. Japan banks in serious trouble: biz.yahoo.com Political leaders saying banks should not be saved, and talking seriously about failure: biz.yahoo.com And even the bank inspectors are hanging themselves: biz.yahoo.com And more steel companies warn of bankruptcy, these are the big debt boys: biz.yahoo.com I'll stop talking about this now, but I want you guys not to lose money, and I think the banks are not done falling yet. JMO, but it looks grim, and with justification. Tying up your money for the next two years in the hope that they will recover from here doesn't seem like good time value to me. Good luck whatever you decide.