To: lee kramer who wrote (40511 ) 5/17/1999 4:51:00 PM From: Jenna Respond to
Lee. its just what I thought. Today was a pre-relief rally , and tomorrow morning will be the relief rally, into which I'll sell the options calls this time. Look at it like this.. If a person gets depressing news say about their physical or financial health, they panic (Friday selloff), then they go into another stage (denial, maybe things will turn around and they won't raise the rates)so they buy, then the next day comes around and they DON'T raise the rates, so denial is now affirmed (maybe the diagnosis was wrong, yes that's probably what it was)is getting inflated, the diagnosis/economic report was not a fluke).. and the tightening, causing another flurry of panic and everything starts all over again. Its about here you just give in and cope, and come to terms with the 'illness' that might now be the market for the next few weeks. Internets go down, financials go down, any good word will bring about yet a second relief rally, and that's how its going to be until next earnings season.
