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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: Anthony@Pacific who wrote (61100)10/22/2000 2:07:02 PM
From: Mama Bear  Read Replies (1) of 122087
 
Tony, I don't think there was enough time for that to have happened. The decline was a breathtakingly fast waterfall decline with bids being pulled and 5 and 10 point gaps down on the 1 minute chart. Believe it or not most of the selling (and therefore most of the buying) occurred above 90 that day, and a most significant amount over 100. I did have my eyes glued to the L2 screen that morning, and my gambler's finger on the buy button when they halted the stock. They could have waited another minute so I could have got my first buy at 40. -g-

One thing that we disagree about is the amount of manipulation in the market. I have learned a long time ago that you know more than me, so I wouldn't be shocked to find that the truth is closer to your position than to mine. However, I really think that it is not in the average trader's best interest to worry too much about manipulation. More often than not, it is used as an excuse to justify why the price of a stock went in a direction other than the one the trader expected. Look at the cries of manipulation on the threads of many of the POS stocks that we short after they fall. In other words, it is used as an excuse by folks to not take responsibilty for their losses. I fully believe that those who don't take responsibilty for their trades are destined to fail.

You would have been proud of the way the chat room deconstructed that PR. We had a pretty compelling case the PR was a fraud while the stock was still trading over 100.

Regards,

Barb
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