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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (23073)	4/1/2000 11:01:00 PM
From: Gary Wisdom	Read Replies (2) of 57584

Rande, found your post on 4dml very well written and interesting. I've seen this time and time again even at times the naz wasn't crashing. IMHO, it's criminal. Take Mzon for instance. Stock goes from $5 to $17 in one day on bullshit news. Sure, it's stupid to pay $17 for a stock that was $5 the prior day. But it's also stupid and criminal to push it up that far. And you know the mms or brokerage houses did that to lure in more suckers. Well, in 5 days it hit $7 again. Just pathetic (no, I did not buy it). However, I've had stocks that have gone down as much as 35% in one week on absolutely no news. And not a high flyer. They create these dramatic moves which only serve to create margin selling. Which then depresses the stock even more. Your points about margin buying are very well thought out and correct. In this vicious market these days, it is absolutely the worst thing you can do. Rambus from $70 to $470 in weeks then down to $220 just like that? Come on, what kind of crap is that? But it does go to show you the houses are equal opportunity screwers. Caveat longs or shorts. It certainly works both ways. Incy from $110 to $290 to $70? Come on. What is it really worth? A very astute trader friend of mine recites this chant over and over. "You just can't buy a damned thing anymore as an investor. You've got to take your profits and run with 95% of the stocks out there" How true.

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