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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: UnBelievable who wrote (51044)12/24/2000 6:15:26 PM
From: John Lacelle  Read Replies (1) of 436258
 
Un,

Yes the Beta of these markets is outrageous. The
chart people, Elliot Wavers, and momentum players
do not like volatility like we are seeing. It tends
to shake out the conservative investors and wipe
out the day traders and other margin players. I
have just been looking at some of these companies
that only 9 months ago were selling for 100's of
dollars are now "5 and under". RHAT is at 6, CMGI
is busted...of course all the ".coms" have made
headlines but even some solid companies have just
nosedived. I myself am starting to see some oppor
tunity to get into companies that I always thought
were overpriced but still don't see the bottom yet.
Scary stock market. If I was George W., I would be
very concerned that a lot of Americans have been
wiped out and we are headed into an ugly recession.

-John
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