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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: paul e thomas who wrote (8636)1/2/1998 6:04:00 PM
From: paul e thomas  Read Replies (2) of 13949
 
JACK BE NIMBLE JACK BE QUICK

Today was a lesson day!!!. I have talked at length about my belief that someday there will be a broad and deep sell- off when the mutual funds finally decide it is time to bail-out of Y2k.TODAY WASN'T THE DAY. It illustrated though how fast high flying Y2K stocks can drop when 100,000 extra shares above recent volume are unloaded by individual investors taking profit. I was really caught by surprise by the sell-off. I shouldn't have been ( looking back with rear view vision).At the bottom today I was off more 60,000$.My NEW YEAR'S RESOLUTION is not to be able to kick myself in the pants by staying in Y2K too long. Today I sold all or part of my positions in CBR,SYNT,DSYS to buy an additional 1000 shares of IMRS @ 34 5/8. Because I wasn't paying sufficient attention I also had to buy back 1000 shares of IMRS at 1/8 higher than I sold it at earlier this morning. It is clear from the IMRS thread that a number of IMRS devotees also bought today.Individual believers won't be able to stem the tide once the volume momentum shifts to the sell side. I don't have an Y2K exit strategy today. I will by January 12th when I leave for a 2 week vacation.
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