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Non-Tech : The Critical Investing Workshop
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To: Dealer who wrote (12052)4/10/2000 10:44:00 PM
From: Voltaire   of 35685
 
Market summary;

I feel it is imperative that everyone understand what the Houses are up to.

Remember the other day when we were down about 575 points on the Naz? Well the Houses did what I thought they would do and brought it back but they left out something, after reviewing their actions, they realized they had not accomplished their goal and that was to knock out the last of the severely margined players. A drop of 575 was nice for the Houses but did nothing to finish off this last variable standing as an obstacle to the advancement and solidification of their inventory. So what, you ask? Well you got their answer today and you will get the rest before Wed. afternoon. One must remember that all Houses know exactly the extent of their exposure to margin and this is their guide to the extent of this decline you are seeing and will continue to see for the next day or two. A 575 point drop and then finishing 46 down will not bring on many margin calls. They need TIME and decline to do it and that is what you are getting.

If you noticed, several Houses came out today and suggested what? That the average investor lighten up on technology stocks. Notice how they did it in CONCERT. NOW, what is the one thing we have learned from these bastards? IF THEY WERE TRULY GOING TO SELL AND LIGHTEN UP ON TECHNOLOGY, WHO WOULD BE THE LAST TO KNOW? WE THE RETAIL INVESTOR. Do you believe the houses are actually altruistic enough to tell you to sell if they were going to sell, come on, please!

Summation:

We will get the earnings run as soon as these heavily margined players are exterminated by the Houses so cheer up and watch. Should see signs about Wed. afternoon with build up through Friday.

Selah,

Voltaire
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