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Technology Stocks : Newbridge Networks
NN 15.04-3.8%3:13 PM EST
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To: gbh who wrote (12371)7/24/1999 11:21:00 AM
From: New Economy   of 18016
 
The bottom line is that the mkt. will over do things both positively and negatively.
intelligentspeculator.com

In our quest to be intelligent speculators we have observed that the strategy of buy and hold forever requires some qualifications. From every outlet investors have been admonished to chant the mantra of never sell and never to attempt to time the market. We are to only buy using dollar cost averaging regardless of market conditions and faithfully ride the market up and down regardless of trend because, in the long run, the market always goes up. Yet we repeatedly witness alternating episodes of buying frenzies and selling panics on a worldwide scale. Who is doing all of this trading? If it is not the new breed of educated individual investor who never sells, then who is? From our experience the fund managers are the big traders. Contrary to what they tell their clients, managers try to time the market all the time in an effort to beat each other. A number of the top technical analysis advisories routinely charge over US$100,000 per year per client for advice. The public is discouraged from attempting this feat at home, mainly because all the fund switching makes a fund more difficult to handle for the managers.
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