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Pastimes : Thread Morons
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To: ISOMAN who wrote (6705)1/13/1999 2:23:00 AM
From: EL KABONG!!!  Read Replies (4) of 12810
 
isoman,

This is not your typical moron thread post. This day trader wannabe posted this:

Sorry all bears, I plan to sell all at open and jump into NUTS hope to get 50% in 3 days to lift me out of misery. Problem is I don't know I am the last to hold the worthless certificate since have to go to work and can not monitor...well I can call broker by phone but cumbersome. Which one is not likely to crash or go down? Frankly I am scared to go long but need to bring closer to black... Still don't know if I have the nerve to hang on nuts overnite? Thanks all,
Message 7228924

The response from Mama Bear is very insightful and sage. All investors would be wise to follow her "rules" #1 and #3, not necessarily in that order.

Some suggestions:

1. Don't bet more than you can afford to lose.

2. I would suggest either AMZN, YHOO, or AOL, or better a basket of the three. These three are being touted as the "Internet blue chips". Be aware that YHOO announces their financial statement after the bell tomorrow.

3. Don't get greedy.

4. Set a stop loss. It's got to be loose, the 'nutz are volatile. But lately they haven't been fluctuating down that much.

5. Consider a 'safe' play. Buy the stock, sell the call. The Jan01 YHOO 320 call was bidding 206 at the close. That's a lot of downside protection. Of course you limit your upside as well.

6. Does your broker do mutual funds? There is one called 'netnet' that invests exclusively in the 'nutz. Sorry I don't know any more than that about it.

7. Remember suggestion #1

Barb
techstocks.com

KJC
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