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Greg, this market is impossible to deal with on a logical basis. It started back in April, when all of a sudden the big houses colluded to shift funds away from certain stocks, like AOL, in favor of cyclicals. There is no way all of these fund managers are going to agree on one day at 10 am that this is what they should do, all by themselves, without some sort of collusion. That is when aol came down to the low 100's. It came back up right away, probably bought by those who were not privy to the inner circles who were planning on another dump. Then it came down day by day, on light volume, for weeks and months. As it was close to the bottom, the false stories started appearing, and if you notice the bears were all over this thread. Today we had the big blowoff bottom. What is in the future? Beats the hell out of me, I am just a small investor, being battered along with everyone else. I guess the only thing we can do is keep our eye on the ball, what are the company's fundamentals, what is the future of the internet and technology, what company has the best footing in this new market, and ignore everything else. It is not easy. Either that or be good enough as a day trader to play these swings. Clearly the shorts would have profited as much as the longs have this year. But the short's risk is immense, especially at these levels. Oh well, live and learn, we all do. |
