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

To: space cadet who wrote (13546)	9/8/1998 6:42:00 AM
From: virgil vancleave	Respond to of 18691

So is anybody else planning to sell into the rally or wait for a follow through. It looks like markets are up everywhere, but many overseas gave back most of their gains late in trading. It will be interesting to see. Chartwise, many stocks should in theory pull back to their now declining moving average and then move back down from there. Futures were up a lot more early this morning also. Could be an indication of the lack of follow through that is coming. Just my opinion, but this little rally is a selling opportunity. Especially vuylnerable, the banks since they were leaders to the upside before the fall. If they do not rally......TROUBLE is shortly ahead. good luck

To: space cadet who wrote (13546)	9/8/1998 9:20:00 AM
From: Joey Two-Cents	Respond to of 18691

I sold the week before last, one week short of the really big selloff but still did very well. I'm looking at INTC put LEAPS, the 70's of 1/00 but think the market may rally the next couple of weeks as everyone comes back from vacation, as such I am going to hold off. If INTC hits 85 I'll probably be able to pick the LEAPS up for around $ 5. As for banking stocks I think if the market rally's they'll rally big time in the next couple of weeks, maybe 20%-30% from their lows before the sh*t starts hitting the fan again (SA, Russia, Ken Starr, Japan). As for gold and silver, I liked PDG at 7 7/8 and FCX pfd (with a convertible gold option of 1/10 th oz due 2006) but they ran up 30% in the last 2 weeks and I feel if this market rallys the next copule of weeks they'll drift back down. Over the long run though I think gold will do very well and would be a buyer of NA gold stocks.