Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: excardog who wrote (18)	10/22/2000 7:02:20 PM
From: tradermike_1999	Read Replies (3) of 74559

Story sounds so crazy it makes one chuckle. But its real damage to people's lives. I know one person personally that went broke two weeks ago when the market was selling off. He put his entire account into RFMD and got a margin call. As it was dropping he bought calls in the stock to. I saw him a few days before the margin call and he said he was going to hold on to it and hope it went back up. It didn't happen. He's made about 2 small fortunes and lost them in just a manner of days. Treats the stock market like a casino. Last year I heard about a couple who bought a tech stock with a credit card. By March it was down 50%. They took another credit card out and got a cash advance and doubled their position in hopes it would go back up. It fell again and they went bankrupt. I felt sorry for the people, but that type of behavior is crazy. I imagine there are still a lot of people like that invested in the US market.

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