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Politics : Idea Of The Day
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To: Tom Trader who wrote (13840)11/10/1997 1:42:00 AM
From: Michael Rich  Read Replies (3) of 50167
 
Hi Tom,

>>this go around, there has been little sign of capitulation on the usually bullish threads<<

Not sure who got sucked in near the top this time. A lot of
yo-yo traders before I left ... so my sense is that people
are not hurt too badly this time even though we got 1000+ point
drop in DOW INDU. We had a incredible run from sub-6000 to
8000. People may have lost their real and paper profit but
I still believe there is plenty of cash sitting around. One sign
of bottoming is quality stocks got killed.

>>I have stayed away from adding any new positions for a
while--in fact, I have been hedging the long positions
that I have<<

Good move. Now in terms of sectors to keep eyes on, a lot of
exciting development in the biomedical area. I like biotech
companies doing biological drugs (as opposed to chemical drugs).
For instance, we should see some fatal cancers become curable
in the next 5-10 years.

Oh, Tom, how did your system react to the 10/27 crash? Just
curious to know how system traders fare in that situation.

My regards.
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