Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: Sir Francis Drake who wrote (7729)	4/5/2000 1:06:00 AM
From: t2	Read Replies (1) of 10027

OT Morgan. Thanks for your input--always enjoy your insights. You might be right on the point of investors waiting to sell to lock in their gains on rebounds. My feeling is that there could also be many investors with large portfolios that don't want to be in the high flying sector that made them the most money during the summer months. The Yahoo's and AOL's had their biggest drops around early summer last year and the retail and institutional investors are aware of that. I think the stampede out of the high PE (or PE-less) stocks started early this year--to beat the rush. However, there are lots of new retail investors this year that don't have the huge gains but will still buy on the dips--they don't remember the selloffs in the high fliers around last May. I am sure the technology funds have been raising cash as well, knowing the history. This should lend some support in declines like today in the intermediate term, at least until the online investing craze dies down---which probably won't happen until the next crash. We just got our declines earlier than the usual post earnings period. We should get an April rally for the next couple of weeks, probably followed by sideways moves or declines. I had stopped daytrading last year after only a couple of months. Believe it not, I found it too boring. I was used to the exciting world of options trading. I started buying JDS Uniphase calls last fall after abandoning Microsoft last summer--lucky timing. I don't hold much MSFT and have not since last July since i had found a great replacement in JDSU. (I am just loyal to Bill Gates and co. since that i how i made money in the first place) Still bullish on JDSU but that one is a long term hold for me. Now only playing Nokia and some intel calls. Planning on getting out of options soon and holding stock only---which is the equivalent of being in cash for me. Lucky for me that I have been able to keep most of my 80% gain year to date after reducing options quite a bit as the Nasdaq got close to 5000. I still get tempted for short term trades in options and the one I really playing aggressively is NOKIA along with a little Intel although I am still not betting the farm on these, choosing instead to up well out of the money calls. Otherwise I am on very little margin, even putting 1/4 of my portfolio with a conservative management firm. BTW--Planning to buy call option on value stocks in the event the Nasdaq fails to make a major move. Reason is that the flight to quality (bonds) has already taken place. The next best place (other than cash) may be the very low PE stocks. It is just a idea that I plan to keep in mind depending upon how the Nas, Dow, bonds perform.

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