TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Laura E. who wrote (43431)	4/16/2000 11:34:00 AM
From: myturn	Read Replies (2) of 150070

Laura, I too have been doing it. My mistake was attempting to catch a falling knife on some of these Nasdaq stocks. For example, Yahoo, why is that one going down? It is a real company, with real earnings and they beat the analysts estimates. The SEC supposedly tracks stocks on a daily basis to see if there is any unusual trading activity. I have been watching this free fall and it is not self induced. There are not that many shorts out there. LOL, Is there? LOL I never used to short stocks. I have been recently. I wish I would have shorted more of them. I also wish I would have been playing options. Would have, could have. should have. LOL I went to London about a month ago and my wife's grandfather was a broker on the London exchange for 40 years. He told me then, "stay away from the Tech sector". None of them have any true earnings and are very speculative. He said, look to buy into them after a major correction. Something, he always tells me; A PROFIT IS A PROFIT IS A PROFIT. My only problem with a profit aspect is the tax crunch. If I would have taken all of my profit off of the table 4 weeks ago; I would have had to set $400,000 aside for taxes for next year. I don't want to see $400,000 to go to towards taxes. Now that I have held onto positions like MOAT and VITC; I have two big tax deductions for next year and they are 100% deductible at this stage. I paid off my mortgage last month, but I will have to come up with $20,000 in taxes because that is income that I used to pay off my mortgage. Now I don't have the tax deduction from the mortgage. The true blessing; I don't owe anyone any money at all. The only people I have to worry about now is the IRS for next year. Back to stocks. LOL. Where is bottom? I am still seeing more bulls than bears. The institutions will be stepping up to the plate soon. I can't imagine all of them sitting on a large cash position right now and letting this free fall continue. Me, I am buyer on Monday. I bought heavy on TRAC and will buy heavy again Monday if it dips more. I foresee the shorts coming in to cover soon. I believe it will retrace its levels back to at least $5-$6 in the short term. There was a lot of support in the $3.00 range on Friday. Cheers RG

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