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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: Trader J who wrote (22381)	12/4/1998 3:05:00 PM
From: JEB	Read Replies (1) of 119973

Have you noticed one week to ten days ago the talking heads on CNBC started to put down the internets. This culminated into the sell off Monday, followed by rumors of Greenspan's control on margin for one sector of the economy. CNBC reports that there are rumors of margin tightening of the "NETS". Then come to find out the Brokers are cutting margin on the "NETS". Rumors that the MM's are shorting the Internet market. Cramer on CNBC goes rabid and calls them "Fraud-U-Nets", and says he tried to short the morning of the interview, complaining about their fundamentals compared to their price (Rabid is not Cramer's style). Then the complaining accusations of day traders made on CNBC just the other day. Let's total this: 1. CNBC negative internets 2. Greenspan margin rumor (eluded to on CNBC also) 3. Brokers cut available margin to the NETS and MM's short rumors 4. Cramer going ballistic hurling nukes (This guy USED TO BE bullish) 5. CNBC roasting day trading All in all, I see a concerted effort to push down the internet sector (In My Opinion - IMO). I do not believe this is greed motivated. I believe it is fear motivated. The Venezuelan elections must scare them a little. Chavez has no policies that define him. He stands for nothing right now accept the pursuit of power. Much like Castro did when he came to power. Let's put it this way, outside an international Caracas hotel is a sign that reads, "Chavez Now! Don't be afraid!". Reassuring, isn't it! The elections will be this Sunday. We shall see! Venezuela and a host of other oil producing nations are preparing for the next price war. They can't agree on quotas, let alone live up to them. You have the scaling back of American corporations. Layoffs are in the air and just in time for Christmas. Perhaps these are a few of the reasons to push down one sector so as to also deflate the overall market enough that there won't be one big sell off, rather it will be a slow steady decline. One problem was that we (The day traders) were the wild card. We did not understand what they were doing and why. In the process, the push down has stalled. Just my opinion on current events. Good trading, JEB

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