Y2K, ref: BRCM, could not agree any more.
You are absolutely RIGHT. They must see the light one day, and the day is sooon. Asian market is down 2.5% as we speak at 2 AM Thursday.
Greenspan wants to keep the market where is for a while to curb inflation, which is very important to him. He wanted it as it is now since last July when he threatened to tighten unless markets come down, and it did. We have to retest the lows and get even further down in order to have a new bullish run. In such a market, how long do you think markets can tolerate a P/E of things like BRCM (170), AMZN, CMGI, LYCOS, SEEK AND SO ON ??????
You see, I used to think that SHORTING is Un-American too, till I got burnt on 1 big scam few years back in which I lost the shirt on my back. Now, I not only made my money back, but I LEARNED HOW TO RECOGNIZE STOCK FRAUDS AND TRADING MANIPULATIONS.
Some times it takes a day, and sometimes it takes a month, depending on the stock profile, I may cut my losses or I may stick it out till the bitter end.
Today, I was told to short a stock, XIRC, do I had 5,000 shares reserved to short it. But as I was watching the TIMES & SALES, I noticed that there were someone who was trying to hold it but placing a bid for 20,000 shares So, I quickly reversed my order to cover then buy long and at 1/2 point above what I sold at, then bought 10,000 shares rode it out for 2 points then took profit just before the close. Who paid for this profit???? THE MARKET MAKER who was trying to hold it up and he paid a price for it..... LOL
Stock manipulation is REAL, the key is to recognize it quickly, but if you do not, then either you take your loss and run, flip flop, or stick it out if you feel like it is another temporary thing. Stock manipulations never lasts long. Psychology has a lot to do with winning. I am good at it, SOMETIMES.....LOL
THANX FOR THE POST ;)
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