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Non-Tech : Real Time Day Trading Chat Rooms

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To: dave carroll who wrote (57)	6/19/1999 1:48:00 PM
From: al	of 60

"From the rooms I've been following lately..... =====>> could you name the rooms please ? .......I've found that the gurus often prove to be good contrary indicators..... ====>> that is true and many astute traders short the peaks of the guru calls which many times causes the gurus and/or some of their followers scald those posting a short on a guru call especially if they get caught in the stock and it is going down and they are hoping for to get out even or with less losses .... 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............. ===>>> some rooms do have hundreds of traders follow the call but that number depends on how many total newbies are in the room at the moment ... those with more experience don't jump on each if any call they are much more selective ... 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? =======>> the rooms are daytrading by definition all calls are made based on a quick in and out trades not necessarily based on what the stock will do in the future basis for most calls is ... will it pop enough to make a quick buck and forget about it till next time it is in the news etc etc some of the picks are bound to keep going up and would make more sense if held for a few days/months than daytrading them for 1/8 or 1/4 but daytraders are not investors .... however many people do short term holing and they most of the time qualify their calls as such ....... 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. ==>>> see above ... 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? =====>>> being in the bull market doesn't produce many shorters but still there are a few people who specialize in shorting and are very good at it also most people shy away from shorting because first thing they learn about shorting that the loss is theoretically unlimited once the trade goes against you , besides most people do not understand the shorting concept

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