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Pastimes : Ask Mohan about the Market
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To: Jay who wrote (10553)12/9/1997 11:22:00 AM
From: Bonnie Bear  Read Replies (2) of 18056
 
Jay: poor boy. greed is a terrible thing. stock markets should only go up 8% a year, when they go up 30% a year for three years you should get really suspicious that something bad has to happen. If you're really weeping over losing virtual money because you missed staying long through the mother of all short-covering rallies then you should find the daytrader's tread and chat there. staying in for the last ten or fifteen percent has wiped out a lot of investors, because stocks don't wait for you to sell them before they crash. Ask the folks on the oracle thread. you don't make money when you BUY a stock, you make money when you SELL a stock. Be happy that you made money and have to pay taxes.
There was a time not too long ago when everybody was bemoaning the tax loss they would take on their tech stocks.
Since august, foreign stocks have gone down 50%, gold has plummeted,
smallcaps and microcaps have plummeted, there's nothing bullish except a handful of overpriced oversold wall street darlings. and none of them look very bullish today. -eom-
and yes, I made money on the crash. you can find my post from the previous Sunday night on the kahuna thread telling Bill it looked like a big kahuna for monday based on Tokyo stock prices.
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