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Strategies & Market Trends : LastShadow's Position Trading

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To: Jay Lyons who wrote (15216)	6/7/1999 1:01:00 AM
From: American Spirit	Read Replies (3) of 43080

I apologized more than a week ago for stating that BKS was a no-brainer. That IPO backdoor play was a failure. I took a large loss and switched into other stocks. I was hardly alone recommending it and it did look like the sure thing. Problem is, there IS no sure thing. You just bet with your money and take your chances. Every opinion there is can only be an opinion. Nobody knows. If we did we'd all be extremely rich. I hope you didn't lose any money in BKS. Though it has come back a bit it did not ebenfit from the IPO the way I thought it would. Part of it was bad timing as the nets were tanking on the IPO date. The Amazon collapse and Barrons story didn't help either. Literally nothing is for sure then or now and as much as feel something is right in our gut, it often turns out to be wrong. I learned a lesson on BKS, but the irony is that it doesn't really prove anything. Next IPO backdoor could soar. Who knows what really killed that play? Perhaps a combination of things. Perhaps we will never know. We all recommend stocks we believe in (and usually own) because that is the nature of the game. People recommending ATHM on Friday morning were plentiful and it did indeed look cheap. I read a few apologies and forgave them. Even the best pickers are wrong about 40% of the time, and I'm not calling myself one of the best. So what is your point? That everything I post is wrong? You tell me who's always write and I'll have over my portfolio to them. Best of luck. This week looks like a big rally. But I could be wrong. We could all be wrong. Always. PS - If you own BKS I have no idea what you should do. Do you own DD and make your own decisions as I do.

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