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Pastimes : Grinders and Gripers Coffee Shop

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To: Apex who wrote (3)	6/23/1998 10:13:00 PM
From: The Osprey	Read Replies (1) of 4201

Apex, I have been following the actions of the internet club through OOL,THW and now SGU and I have some concerns about the actual structure of the club and their directions to the members.On THW I have seen it get sold down and Mr. McDo suggest it was a longer term hold possibly two weeks and now SGU has messed things up if you read the messages.(By the way thank you to the people who are sending me the copies of his blanket e-mails) It keeps me informed while he has cancelled my membership. What concerns me is the club has no input in the selection process and are only advised I presume after Mr. McDo and his full time analyst(I Hope you pay him well) have made selection and positioned themselves.Then he goes on to suggest everyone should look at stop loss as protection.(Shows concern) "In On Stop SELL order can only be entered below the current market price. It is used to prevent or reduce a loss that may be caused by a drop in the price of your security. Example: You buy 10,000 shares @ .18› of XYZ Inc. You are monitoring the stock and it increases in value to .24›. The bid is .24› & The ask is .25› You would enter an On Stop Limit SELL order @ say .22› in order to protect any large loss. You continue to do this (put in new HIGHER Stop Loss limit orders) as the share value keeps rising in price, do not put the limit to close to the actual current price ,because if the current price trades through your set limit price, your sell order will be executed" If this is the case why was he still sitting in THW after it dropped as well as a hold on SGU.He should look to a different broker as he never executed the stop loss when he should have IMHO.Or,did he forget to sell looking for the big killing. "To all members, I must apologize to all members who participated today in the buying of SGU.V I obviously grossly underestimated the amount of selling pressure that was out there. Selling today came from practically every House in the land. I was under the impression that there was to be buying support - instead we got hit with selling and shorting."(I wonder if he fired the Analyst???) And then he follows up with this.Where is the stop loss? "I am holding onto my shares, I have not sold any shares. I have not shorted any shares. I will wait for any news that the company will put out."(They just did a NR. I saw it friday night) Whatever happened to the original plan for this club? "We will be doing momentum trading / day trading, we as individual investors."(THW and now SGU are long term holds) I am concerned that Cyril is not the only one left sitting in a former pick and think that this should be opened for serious discussion as (1)Is this not intentional Stock Manipulation? (2) Is this not a pyramid type scheme where the people at the top who can hire full time analysts and set up websites are making all the money while the little guy who gets the impression that this leader knows something dump their money in and get burned buying his sell orders on the morning the pick is a go.I expect to hear from both sides here.What are your thoughts? I even invite a response from McDo. Osprey

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