Massacre on Wall Street Message Board

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Strategies & Market Trends : Massacre on Wall Street

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To: Freedom Fighter who wrote (82)	4/21/1999 11:24:00 AM
From: Cynic 2005	Read Replies (1) of 92

Wayne, here are some thoughts for the interim: I expected a sharp reversal for NAZ yesterday at the magic 10% down from the peak (~2350) There are certain monkeys who press an automatic buy button as soon as an index drops 10%. Now that euphoria should die. Pay attention to the misery faced by margin buyers of mo-mo internuts. It appears as though most of them survived - thanks to these monkeys. I bet you that there are 100 to 1 odds that these guys WILL be taken out in the next 3 days. This is from somebody who has been there and done that. Dow may not crumble immediately, but the next downturn will leave with many mo-mo traders with much less money to play with. Hence we may see flatter rebounds than the ones we just saw yesterday and today. In any case, I do belive that the time for the bears has arrived. Be advised and stay alert. #reply-9052489

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