Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Mama Bear who wrote (61098)	10/22/2000 2:26:10 PM
From: Prognosticator	Read Replies (1) of 122087

So you think that only a 'gambler' would sell based on a semingly legitimate press release that states the CEO has resigned in disgrace, that the SEC is investigating, and that earnings were falsified? Gee whiz, if that's not a good reason to sell I don't know what would be. No, I think that only 'professional' traders have the time to monitor the business wires that send out those press releases. B&H investors would not even know about this debacle in time to get taken. Unless they were foolish enough to put a stop-loss sale order in place, in which case they've learned why that's a bad idea now. My largest holding is SUNW. I bought it in 1996 and have held (with a brief experiment in shorting against the box and put options which I now realize is futile). If a press release came out about Scott McNealy resigning and the SEC investigating I would (1) laugh (2) buy as much stock as I could on the way down. Of course, the whole thing would be over before I even knew about it. Hmm, maybe I should put some buy-at-limit orders in... IMO the gamblers were the folks who went long in the face of that news unless they had done enough DD to realize that the odds were that it was phony. Even then, it was a calculated risk. True. But somebody has to provide liquidity. That's my only problem with Anthony's call for the NASD to disband: who would provide liquidity? If the NASD didn't exist, wouldn't we have to invent it? P.

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