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VELO, once a stock like USAB makes that kind of move, I have to convert over to trading it. I often miss out on the big movers that way, such as EPAY, which shook me out more than once. But I can get some sleep knowing that the money is not lost if it is not bet. Yesterday, when I entered in the high 9's, I knew that the downside was only about a buck, and that I could limit my losses quickly. But after a move like today's, it could do some harm to my account if I was not able to get out of it fast enough, or if bad news came out over the weekend. Or even if the market makers didn't want to party come Monday morning. The stock is up 100% in the past week, and we haven't even seen the website yet. There are going to be a lot of challenges for USAB up to and including getting clients to use the website, as well as bringing in new clients. Don't get me wrong, I think the on-line banking business is going to be hot, but the fact is, all of the banks are going on-line. All of them. The big boys are going on-line right now, so the big question is, what is going to bring all this new business USAB's way?? Maybe I just lack vision. One other thing. What difference is it going to make whether they offer on-line trading?? If we are all banking on-line, and we are all trading on-line, don't you think we will be able to just transfer money from one firm to another electronically almost as easy as having it all in one place?? I do. And I am real happy with my existing broker, so I would not be leaving them. Funny thing is, there will really be too much of all of this. There are already gobs of on-line brokers. And the banks are already a dime a dozen. What's to keep my broker from becoming an on-line bank, like USAB says they are going to be an on-line broker?? I just can't see it. A few years ago, I didn't see the internet. But now I do, and I am starting to get a feel for where things are headed in the electronic age. I think USAB is going to make a splash, but the sharks have seen all the splashing around, and they are going to feed. This bank is up against monsters that can pinch things real tight. And they will do it in order to remain the leaders of their industry. They will suffer from their own actions as well, but they have the money to suffer a lot longer than the little guy. So now you know why I am so skeptical. The little guy won't have the funds to play the game long enough. Like I said, maybe I just lack the vision. Or maybe I just think too far in advance. You have made a killing on USAB. I'm glad for you. But I would be leary of the sell on the news thing. In other words, the launch. It's only a website. It's not a ticket to the big-time. My best to you. |
