Sid Klein’s Daily Fax

by Sid Klein

 

A Sampling of Advisory Opinion (Edited by Kathryn M. Welling), Barron’s – Market Watch, October 12, 1998

 

“October 5 – The Nikkei is spiralling to its final low in the exact manner described for literally years in these pages.  LTCB and Fuji Bank shares have virtually disappeared as part of the final death stage where solvent, domestic based companies trading well below shareholder equity are dragged down gratuitously.  In June, the DF went 50% long and sold shorter-term calls for more than our long position’s cost after calls ran up 500%.  All the way down since then, my volatility indicators have remained bearish, as repeatedly reported in these pages.  Last week, I warned that it may be weeks before calls are ready but that the low could be in place by early October for many of the stocks that should be bought.  If there finally were the flush out toward 11,000 that I was alone in discussing for so many years (until this past June), it would be stunningly brief and not affecting all stocks.  Many solvent, liquid, important Japanese companies are now shaping up to offer 30%-50% gains over the next six months with little risk relative to quality, price and potential.”