Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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To: SOROS who wrote (665)	1/13/1999 10:43:00 AM
From: Sir Auric Goldfinger	Read Replies (2) of 3543

This threads favorite reporter updates us: WEB CHAT ROOMS SWEAT OUT EARLY MORNING MARKET ACTION Web Chat Rooms Sweat Out Early Morning Market Action By Johanna Bennett NEW YORK (Dow Jones)--Fear was the operative word in Internet chat rooms Wednesday morning as individual investors waited to learn how far U.S financial markets would fall in reaction to Brazil's financial woes. "There too much panic in here," said one participant in Market News, a popular financial chat room run by America Online. "Everyone should just sit tight." With the Dow Jones Industrial Average down more than more than 250 points in the first half-hour of trading, live discussion forums on the Motley Fool and America Online Inc. (AOL) filled quickly as investors swooped in to share their concerns and the latest market headlines. While several pundits tried to calm frantic nerves by encouraging fellow investors to hold their positions rather then sell, others lamented the fate of Internet stocks as they tumbled sharply in premarket trading. "It looks like the Internet bubble has finally burst," said one participant in the Motley Fool's "Foolish Chat." Several minutes later, participants in some chat rooms were predicting the Dow would fall as much as 300 to 350 points by day's end, which some said would mean a buying opportunity. U.S. equities faced a sell off in Wednesday's early trading, the likes of which has not been seen since last autumn's market shakeout, as financial markets reacted to a global financial disruption sparked by new worries about Brazil. Before the market opened, the Dow Jones Industrial Average was expected to surrender 200 points, while the Nasdaq Composite Index was also figured to tumble as an anticipated decline in Internet stocks compounded the damage from global economic uncertainty. Bad news for online investors, for whom Internet stocks are popular positions. Shares of Amazon.com Inc. (AMZN), Yahoo! Inc. (YHOO) and eBay Inc. (EBAY) were the major topic of conversation among chat room participants, some of whom lamented they had bought stocks on margin.

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