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Hi All:
MSFT traded down to my $75 price and below. WMF AH also traded to $ 5 5/6.
Unfortunately, when I checked 5 minutes ago, my order was still not filled.
I was told by my broker to check Monday morning.
The game plan: If no fill today, then I would try to buy at $ 5 3/4 again
on Monday.
When filled, the next buy level on MSFT will be around $63, and the leaps
will be around $ 3 1/4.
I see that most of the posts are now quite "bearish". That's certainly
quite interesting.... Most likely the majority of you may be right. But
just in case...
As far as I'm concerned, I'm still sticking to my point that the market is
not bearish yet, even though NASDAQ is down 35% from its high.
If anything, without lifting his finger, Greenspan has achieved his
objective ofo deflating the market bubble.
Most people are saying in the next FOMC meeting, he will raise the interest
rate by 50 points. Perhaps with the "deflation", he may not need to raise
50 points. Maybe 25 points will be enough. Well, we'll know very shortly.
Most high-flying internet stocks have plunged 75% or more. Even the good
and solid non-internet stocks have plunged 35-40%. There's a lot of
pessimism out there. Good for me. The more pessimsim (= oversold), the
better, and the eventual rebound, when it comes, may be very sweet.
Remember too, we're in an election year....
Regards,
Wong
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