Real Time Day Trading Chat Rooms Message Board

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Non-Tech : Real Time Day Trading Chat Rooms

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To: al who wrote (56)	6/17/1999 10:58:00 PM
From: dave carroll	Read Replies (1) of 60

From the rooms I've been following lately I've found that the gurus often prove to be good contrary indicators. Their posts often seem to be self fulfilling prophesies, which would make sense, as if there are hundreds of traders following and acting upon the picks of a few traders, any stock mentioned is bound to get a quick bounce. I don't think this could fall directly under the category of pump and dump, as the poster may truly believe in the long term potential of their short term picks. I'd like to do a little more DD on not only the accuracy of the gurus, but the length of time their calls remain correct. Do you think such a study would be worthwhile, or too much hassle? Also, from the chat rooms I have been recently following, I've noticed something kind of strange, very few posters seem to operate on the short side. Anyone recommending short calls are pretty much flamed. It seems I find traders lamenting their losses on down days and 'hoping' for a positive reaction, instead of preparing for further downturns. Is this an indication of the sophistication of the bulk of traders in chat rooms, or am I missing something?

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