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Strategies & Market Trends : Rande Is . . . HOME
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To: Vegas who wrote (3655)2/19/1999 12:42:00 PM
From: Rande Is  Read Replies (2) of 57584
 
Gee, Vegas. . .thanks. . sometimes I get lucky. . .

But to add one thing. . .the CURRENT environment is even MORE risky because there seem to be more playing momos short than there are long. . .

Spend a day in the daytraders IRC chat room and you will quickly see what I mean. . .6 months ago, they would make a call and the stock would just keep on going up up up. . .everybody would post their buys and it was pretty easy. . .even for the less experienced.

But now, news comes out that could move an elephant. . . the board gets all excited and you start seeing the buy posts. . . one after another . . .15-20 or more of them. . the stock goes up .50 cents and then the shorts say " Now " and like a tree that has just been cut, but has not yet fallin, the stock suddenly starts swaying back and forth. . .and the volume quickly doubles or more. . . some bold shorts post their sells on the board. . .then just like that. . .the price is right back from where it came.

In 20 minutes it is all over. . . 500 people made 2,000 trades and all of them broke even . . with a few that made a bit and a few that lost a bit . . . in either direction.

But 2,000 trades just generated about 50k in commissions for brokerage houses. Now if you were in the marketing department of Siebert or E-Trade or Ameritrade or Daytek. . . .wouldn't you be tempted to make certain that EVERY stock that gets news. . .gets "called?"

And the greedy get richer, while the needy get frustrated.

Rande Is
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