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Technology Stocks : Wind River going up, up, up!
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To: Ramsey Su who wrote (8945)12/22/2000 2:29:24 PM
From: Allen Benn  Read Replies (2) of 10309
 
Allen and other old timers,
A question:
does it bother you that a couple of traders made more money playing WIND yesterday and today than we made holding long term for years?
what a racket.

Of course it does. My only problem is I don’t have enough education, intelligence or whatever it takes to trade profitably on a consistent basis. I can often figure out that companies are wrongly priced, but I have a lot of trouble knowing how a market stupid enough to mis-price a stock today will price it next week or next month.

What I do believe is, if you can find a small number of reasonably priced and viable growth companies on the right side of technology, in time you will make an outsized profit. I always have, and I believe I always will.

As for traders, I think the only successful ones work professionally on the basis of a network of people and facts. They can’t be emulated by individuals lacking the necessary organization and connections. Any attempt to rely on market or stock timing indicators is mathematically naïve. For example, I have never, ever seen a single proof of the validity of any stock indicator, not to mention TA in general. People that believe examples of stock charts prove the effectiveness of price and volume formations in determining future price behavior by definition lack the mathematical sophistication to prove it, or to even know a proof is necessary.

Allen
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