Intel Strategy for Achieving Wealth and Off Topic Message Board

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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic

INTC 35.10

+2.3%

3:59 PM EST

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To: Judy who wrote (20843)	9/2/1998 12:28:00 PM
From: Robert Graham	Read Replies (1) of 27012

Much of the trading on Red Monday was due to margin calls which ended up in a mass liquidation of stock. Many had their pocketbook yanked from their hands on that day. Until the market goes down to retest this recent bottom, I would consider it suspect and trade accordingly. Also unless you were early into this rally, taking a long position trade may not be a good idea at this point in time. Still I have seen many jump into a long position in stocks like DELL as the market was tanking at the end of last week. The "bungee jumpers" of the market that have learned a costly lesson when Monday rolled around. As the S&P futures floor trader George Angell said in one of his books, during his successful trading career he was surprised to learn that many are in the market not for the money but for the excitement. How true this is. And I have not ever seen this fact made so obvious until the market started to sell off a few weeks ago. Bob Graham

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