To: Magic RN who wrote (92959 ) 9/2/1999 7:18:00 AM From: If only I'd held Read Replies (1) | Respond to
Magic, I don't really follow what Tokyo Joe is doing, and I am not one of his members. I will be gone for the rest of the week, so I wanted to be flat everything. I sold a large position in VIZY and FEDM yesterday as well as quite a few other positions just to be flat for the weekend. I can have a better time away that way. FATB is a good company, but I don't know what Joe is doing with it. My reasons for selling are simply because I won't be here. I'm heading out on vacation this morning. This is the first time I have been all cash since May and it feels pretty good. FATB is being compared to EBAY and AMZN by analysts. I can't help but think that is a hint from them that there is something big coming. The market makers let the shorts have their way with it yesterday, but it could have been what we call a bear trap. I really don't know. If I were going to be here to trade today, I would have bought a pile of FATB at the close yesterday and held it overnight to see what happened. AT yesterday's closing price, I think FATB was a pretty decent buy. As far as Joe goes, yes, I beleive he plays against his own people. I don't think he is a true daytrader in a sense that he holds stocks overnight and when he wants to make them move, he just tells his people to buy them. I am sure he covered his short yesterday well before his followers did, and may have even gone long for a scalp. I wouldn't worry too much about what he is doing with FATB but what the market makers decide to do with it. If it was a trap, which I think it might have been, some people are gonna get burned real bad on their shorts today. Hope it goes well for you. When I get back, I will be curious to see where it wound up. Good luck and good trading to you and all. Have a safe holiday weekend.
