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To: MythMan who wrote (33717)	4/15/1999 8:41:00 AM
From: accountclosed	Read Replies (1) \| Respond to of 86076

prudentopinion.com

To: MythMan who wrote (33717)	4/15/1999 8:57:00 AM
From: accountclosed	Respond to of 86076

hs... ''The .com world is probably going to do a dead-cat bounce,'' said Arthur Hogan, chief market analyst at Jefferies & Co. biz.yahoo.com they may go up, but dead cat bounce...please!!!!!!...excuse me while i puke but these things have not left parabolic orbits by any stretch.

To: MythMan who wrote (33717)	4/15/1999 9:00:00 AM
From: wlheatmoon	Read Replies (1) \| Respond to of 86076

Loved these parts.... Amazingly, stocks today move 20, 30 or even 80 points on no meaningful news or corporate developments. And this morning Charles Schwab traded with $63 billion in market value, not only 70% greater than Merrill Lynch but also surpassing General Motors. Schwab gained 61 points, or about 65%, in just eight trading sessions. E*Trade rose 83 points, doubling in prices, and Ameritrade gained 126 points, or 200% in the same eight sessions. NetBank surged almost 140 points in three sessions, or about 150%. And looking at the market as a whole, prices have just marched higher with the Dow gaining 700 points in less than three weeks with nothing in the way of fundamental developments to explain such a huge move. As has been the case all year, strong market gains fly in the face of fundamentals as interest rates have surprised on the upside and earnings prospects only continue to deteriorate. For months now, Wall Street derivative shops have been peddling products that provide the owner leveraged long exposure to the Internet sector. And as the writers of these options, Wall Street derivative trading desks must dynamically hedge their exposure to these instruments. This hedging activity can be very destabilizing as it leads, particularly during turbulent markets, to self-reinforcing buying when prices start to rise. As certainly has been the case of late, the writers of call options on Internet stocks have been forced to buy the underlying stocks, at any price, in a frantic effort to hedge exposure. And this frenetic derivative related buying only exacerbates the huge losses being suffered by those short these stocks. This has led to the current truly historic market fiasco. One thing is for sure, the forced panic buying by derivative players and those short these stocks is done with no regard to the underlying business fundamentals of the actual companies. The lack of underlying fundamentals will come back to haunt these stocks come the collapse. For months now, Wall Street derivative shops have been peddling products that provide the owner leveraged long exposure to the Internet sector. And as the writers of these options, Wall Street derivative trading desks must dynamically hedge their exposure to these instruments. This hedging activity can be very destabilizing as it leads, particularly during turbulent markets, to self-reinforcing buying when prices start to rise. As certainly has been the case of late, the writers of call options on Internet stocks have been forced to buy the underlying stocks, at any price, in a frantic effort to hedge exposure. And this frenetic derivative related buying only exacerbates the huge losses being suffered by those short these stocks. This has led to the current truly historic market fiasco. One thing is for sure, the forced panic buying by derivative players and those short these stocks is done with no regard to the underlying business fundamentals of the actual companies. The lack of underlying fundamentals will come back to haunt these stocks come the collapse.