Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: $Mogul who wrote (92829)	4/4/2000 5:34:00 PM
From: KevinMark	Read Replies (3) of 108040

Brandon...I kept trying to find the bottom. I figured after we hit or last least we get close to 3600...then shorts would begin to cover and fuel a rally. Message 13346890 My only problem of the day was that I sold out to soon after riding many positions up 20 pts!!!!! Can you believe that? I take profits after 20 points and they still run another 20!!!! I have never in my life felt as bad as I did today when I saw the Nas break through 3800. Many of my friends(other than hear) that had long positions got the call today and had to close out of many positions. I spoke to a good friend who lost nearly a mil over the past 2 weeks. I'm still stunned! There are so many people at work today who never had a clue. Imagine the ones who did...sitting at their work station @ IBM and checking the NASDAQ at lunch time to find a drop of 575 pts? A complete and utter joke...fueled by negative sentiment by the media! What's sad is the long term investor is the one getting hammered here. The guy who watches Nasdaq commercials on the weekend pumping up the likes of MSFT, CSCO, ORCL, and INTC, who decides that he/she too will invest in "their" market to better their families future. Then the housewife tunes in to CNBC to check their stocks. What do they find...a bunch of negative anchors looking for a story. They even went as far as placing a name on Today by "dubbing" it "Comeback Tuesday"! All day long they broadcasted negative news until the markets had corrected well over 150pts before they even mentioned it. Unbelievable! There were a ton of people today that got hurt badly. Why? IMHO....it was all due to this BS negative journalism for the last 2 weeks. Did you ever hear them say..."the Nasdaq seems to be bouncing off it's session lows...which is a good sign for long term investors." No you didn't...they persisted on pumping the negative vive for the past 2 weeks by saying the complete opposite such as...."the Nasdaq is bouncing off it's session lows...BUT...and I say again...BUT, many investors out there feel that this bounce off the lows will not continue"! Complete and utter BS...leading the investor down the path of sell at any cost. Therefore producing margin calls on a daily basis, while they continue to poor on the negativity. If anyone has any doubts this wasn't the culprit...then ask yourself this...what would cause a 700pt intraday sell-off in the DOW when it was up 200 points for the day threatening a trading halt!!!!! I'm not saying the markets didn't need to consolidate...but 575 pt intraday drop today and a 1400 pt drop in 7 trading days? Today was completely and utterly ridiculous. Long term investors were forced to sell positions today by their brokerages due to this panicia brought on by CNBC. It all started from Abby's comments...MSFT was only the match that ignited this wildfire. I hope it didn't completely scare everyone away let alone burn them beyond recognition. There will be repercussions in the near future from what transpired today. Allot of people were impacted today as well as the last 2 weeks...just goes to show you what impact the media truly has. KM

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