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To: IceShark who wrote (5500)	9/9/1998 5:14:00 PM
From: Cynic 2005	Read Replies (4) \| Respond to of 86076

The anatomy of coming gut-wrenching decline. 1. How will it feel like? No trigger is needed, all the ingredients for the potion are in place. But we have a lot of volunteers for the cooks. From Starr report to Brazil to pre-announcements. 2. How it will be felt? Awful for the people who have been successfully buying the dips in the last few years. The were surprised after they bought at 5-7% decline. They were zapped at 10% decline. They were bewildered at 13% decline. Those who survived these "buying opportunities", got enough guts to loadup at 19-20% decline. On 9/8/98 many stocks opened within 1-2% of the peak for the day. They bought anyway. Most smart 'traders' who bought on Friday would have unloaded already. Today's loss takes yesterday's buyers by surprise. Tomorrow's gap down (I am expecting one) could take them by even bigger surprise. By close tomorrow or towards the end of the trading week the losses for those who bought yesterday will be unbearable. The short-term position traders will dump them, if they have not already. Between yesterday and today, several weak shorts were taken out and shot as well. The net result is a question to ponder very shortly - "sell to whom?" 3. The panic phase has just begun. Weak hands have already been shaken. The object of the game from now on is to destroy the stronger hands. Especially those who have successfully "dipped" thus far. You can pick an SI icon for this and follow his/her picks to see how it happens. This is how it (the panic phase) is designed to be. And I think this is how it will be. You can quote me on that. -g- -MMV