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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Captain Jack who wrote (28036)1/20/2002 10:54:37 PM
From: Lee Lichterman III  Read Replies (2) of 52237
 
>>if there was an ounce of sense they would have sold in order to buy more at a lower price when things began to look rosy<<

You need to remember we are talking about Joe Six Pack, not the SI community. I had a problem with my cell phone's web function not working one day last week and had to call tech support as the DOW was dropping hard. When I mentioned the market dropping and how weak AWE stock had been, the lady helping me commented that she was loaded up with AWE and was holding because it would come back up later this year. I asked a few more "feeler" questions to get an idea of why she thought this and to see how much market experience she had and she didn't have a clue about the market, just good old fashioned faith. Now she may be right, and maybe there is some super secret deal that will happen to boost the thing up but if you look at a chart of AWE, it has been in a death spiral for some time. I personally like it better than T but it is no gorilla that has shown any strength in the last two years.

Everyday I get questions at work from people that are holding funds that have dropped 40-70% and want advice yet they all plan on just holding on to what they have until they "break even" with March 2000 levels. The average stock and fund holder has no clue, no clue at all.

If we dressed up in a suit and tie and gave ourselves a fancy broker name, we could probably sell 8 out of 10 of these people the Brooklyn Bridge.

Good Luck,

Lee
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