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Technology Stocks : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pittman who wrote (7889)	10/12/1998 10:11:00 PM
From: Rob Prickett	Read Replies (1) \| Respond to of 10227

Ed, Thanks, I understand why you are saying 10+ million shares downward, which is a mirror of what happened at the peak for Nextel's price. But, is that kind of action necessary for a stock to reverse? Do the week longs need to be shaken out, or can a stock just slowly turn around and gradually work back to new levels? I haven't followed price / volume trends for long, so don't have historical data to analyze this. In October 1987, was there a massive sell-off for the market in general? If I remember the price drop in 1987 correctly, today's market has already come off its highs about same percentage as the drops in 1987. I'm a little confused by your statement about October 16 or 19 being some kind of cycle panic day, but if Dow hasn't dropped below 7400 by then it may indicate a bottom. I'm sure it all fits together, I just don't see it clearly yet. Thanks Ed, Rob

To: Ed Pittman who wrote (7889)	10/14/1998 11:43:00 PM
From: Jay8088	Read Replies (1) \| Respond to of 10227

Massive correction to downside similar to 1987 (or even 1929) can still happen. The market has been tracing out successive 1-2, 1-2, 1-2 waves to smaller and smaller degrees. We are approaching the moment of truth - like tomorrow. Given the strong support 7400 level has been providing, once that gives, all hell could break lose. That is exactly what happened in 1987, 1929 or Hong Kong in 1997. I am still betting on the crash wave appearing very soon - no later than Friday. Due to extremely risky betting I have undertaken, I am not an objective observer at this point. My perspective is very distorted right now. ( Where is that Greenspan VooDoo doll? ) But it does look like it is going to happen as far as I can see. Anyhow all in all, cash is probably better. I just happened to have bought way too many October puts! :(