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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Allan Harris who wrote (6364)	6/29/1999 3:46:00 PM
From: Kirk ©	Respond to of 15132

You are right Alan! Daytraders and Gunslingers were SHORTING Internet stocks from the April highs into the recent bottom and if they were telling the truth (which I doubt) they cleaned up. Some did well. I know of one that issued a sell signal just as the nuts were hitting new highs (I work with him on some other stuff)....I thought he was coming out of left field and had no clue why he issued it. I held on to my tiny position in my one, small nut and it sure 'nuf went down. Some of these "gunslingers" are pretty darn good. Ah... here is his email... dated April 27 Subject: Lazy's "Chinese Fire Drill" Date: Tue, 27 Apr 1999 11:52:00 -0700 Hey All- Sorry for the lateness of this, am fighting with my ISP to get this out... Sold all of my positions with the exception of Rare Medium (RRRR)I opened yesterday at 10 am for a days profit of about $1480. Am glad I did, just looked at the smoking remains... RRRR is down .39% (1/16) for the day and if it gets to 15 I will take a larger position........... To this day he won't tell me what triggered his sell signal in the 'nut stocks.

To: Allan Harris who wrote (6364)	6/29/1999 3:56:00 PM
From: Justa Werkenstiff	Respond to of 15132

Alan: Re: "Ok, let's give the B-Man the benefit of the doubt and not immediately assume sarcasm and ridicule when he addresses the subject of Internet stocks and Internet investors." Sounds good to me. Re: " Certainly, when he labels Internet investors Daytraders and Gunslingers he is not referring to all Internet investors, just those whose horizons are short-term, those not knocked out of the box by short-term volatility or panicked out positions at intermediate bottoms." I agree, however, I think it is fair to say that Brinker has not been as clear as he could have been regarding this issue. I have not drawn any conclusions from one segment of the show but instead have done so with many segments and some inference. It would be nice to hear him address the issue in one segment. Re: "Speaking of which, if you read through some of the SI and Yahoo short-term timing and Internet stock threads over the last few months, most of the Daytraders and Gunslingers were SHORTING Internet stocks from the April highs into the recent bottom and if they were telling the truth (which I doubt) they cleaned up." Somebody lost money. Probably the ones that did not post! But I will say this. Now that these stocks have shown some cracks at the edges, I believe the lower quality issues are one of the best way to make money on the short side during a bear market. Re: "So, no ridicule or sarcasm, just healthy curiosity and wonderment. I'll be listening this weekend with a completely new attitude." Hey, I am going to listen more carefully when he has these calls. I wonder if Brinker is using the internet traders as some kind of anecdotal sentiment indicator. I know he was real pleased when these stocks cracked as I think he saw the market as having more sustainability after it happened. FWIW, during the KGO interview Brinker said that he has not seen such rampant speculation in the market since the roaring 20s. Yes, I guess you are the King of France <g>.