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Non-Tech : J.B. Oxford
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To: Sir Auric Goldfinger who wrote (2133)7/30/1999 6:19:00 PM
From: xbrent  Read Replies (3) of 2220
 
IMO, there will be alot of negative publicity regarding daytrading and electronic trading after the shooting. New NASDAQ warning rules are likely. Electronic brokerages are going to get alot of negative publicity in the next couple of weeks. Count on it, the media will love to talk to people who have lost money, divorce, etc. Its an easy story for them. IMO alot of electronic traders have lost alot of money in the recent past. How many people have bought on the dips, like AOL for example, and been crushed over and over? Trading volumes are down and retail trading volumes will not return in a very choppy, declining or bear market. Some think that their is so much margined stock that a severe correction is possible. Most electronic traders won't short or know how to short. Just ask around about shorting and I think that you will concur with my observation. Y2K worries will materialize soon as some people won't keep their funds in these electronic brokerages after Thanksgiving.. Also Y2K will reduce volume and cause a market decline. The only question is when? Thanksgiving, end of Oct? When will the Y2K worries become an issue? In summary things will be choppy, both up and down. Maybe the electronic brokers could have one up spurt up.But IMO electronic brokerages have seen their peaks for a while.
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