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Technology Stocks : NOPT: Northeast Optic Network, Inc
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To: zebraspot who wrote (87)7/13/1999 4:57:00 PM
From: Cosmo Daisey  Read Replies (1) of 708
 
zeb,
There are schools in NYC, Wash, Chicago, and other major cities. A few traders do very well. There are trading rooms set up with level 2 machines that are included in the rent you pay for the spot. A friend of mine called me from a daytrade room yesterday and asked me if I was watching CNBC when they announced NOPT move and asked what I thought about the stock. I told him I had positioned @ 21 and the price was @ 30. They watch the price movement and CNBC for breaking news. They trade on teenies (1/16) and get in and out. My friend called when CNBC covered the move by TERN and learned I was already in ten points ago. It's a different game than the people on this board pretend they are playing. It seems there is some magic or mystique in telling people you are a day trader but the facts are most people lose their money in a month. I give talks at AAII and other investment groups and it seems everybody wants to be a daytrader but the strategy that has worked in the past and works now is to position trade in good quality, the next technology group is a good place to be. Stocks like NOPT will have some volatility and perhaps you can make a teenie or two but the overall trend will be higher in the short term. I suspect that the shorters that announced their position and told the longs how dumb the Gilder followers are will be a little more than disappointed in about three days.
cdaiseyPhD@wharton.edu
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