Come on now, come on back down to earth. Ameritrade posted a profit
for one reason only, they cut their advertising budget to a fraction
of previous quarters and coasted on previous ads so they could show
a profit. I like Ameritrade and their concept, but reality will
prevail. They are worth about 25 to 30 bucks max in a good market.
If we head downhill bigtime with the other internet stocks, look out
below. In a slow market the 8 bucks commission will kill them fast.
I would indeed show some caution in this area. As a matter of fact,
If I were a stockholder of Amtd or any internet stock, then, I would
be running scared. So many young and inexperienced players in this
game are now going to just be canon fodder for the pros.
There is nothing new in this game, these are called story stocks, they
come along every couple of years. After they have run their course,
they descend until all unwilling sellers are liquidated by margin
calls, fright, change in rules etc. Meanwhile, the novice thinking
he owns a future gold mine hangs in until his last dollar. Then when
the cycle completes the pros pick up the shares for nothing and the
cycle goes up again.
In a nutshell, the novice trades his money for stock at the top.
and the pro trades his money for the stock at the bottom.
Fair? I dont know but thats the way it is.... This market is
ripe and with Hong Kong down 400+ tonite, it could be quite
a show tomorrow, especially if Clinton fortunes turn for
the worst....this is a good time for casharoo.....
Gil |
