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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (16419)	3/11/2000 3:24:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 42523

nice find!

To: re3 who wrote (16419)	3/11/2000 7:45:00 PM
From: coug	Read Replies (2) \| Respond to of 42523

Hi Ike, <<Unfortunately, I'm in the moron camp. My own pathetic little mutual funds are riddled with junk such as Stelco and Procter & Gamble. My net worth, such as it is, is shrinking faster than a cheap silk sweater. Sue tells me the problem is that these companies actually make and sell things that people use every day, such as steel and toothpaste. They are obliged to employ people and own bricks and mortar, unlike, say, eDispatch.com (yesterday 53 cents, today $29). These major strategic blunders have sent their stocks plummeting. Who wants to own P & G when they can own eDispatch?>> I think we have HAD the Big One.. the big BK in the MARKET of our life support industries. So in that regard, I recently bought CAT, COST, LU in the low 50's and PG in my real account, sold PG for some quick points because I surmise it will be down here awhile. I do not know if it was smart to do so. I never bet the ranch on anyone thing. A couple of years ago, I came to a conclusion, rightly or wrongly, that averages do not mean much any more.. The people behind the popular indices try to rejiggle them all the time to "sort of keep up with the times" but without being outright blatant, about being accused of the fast shuffle, THEY CAN NOT KEEP UP. FAST MONEY in Fast TIMES, I believe the only true average through the ages can be a fluid, dynamic average with NO FIXED EQUITIES but something based upon the up/down prices and volumes of ALL stocks. A cumulative "money flow" that tracks wealth creation and deletion in ALL markets. That is the reason I track from the broad market ony the indices derivatives, the VIX, Up/down volume and Beta for broad general direction. The SPX,OEX,DOW, NDX, etc supply the derivatives to trade of course. So I have to follow them. I trade the hot money stocks, as if I were trading baseball cards, easter eggs or horse turds. and move from one sector to another, trying to stay ahead of the crowd. Many of these, of course, will escape this catagory and enter the Real economy.. Many already have as we all know. I think another reason, that the "market establishment" disses "hot money" day traders is because they are losing their grip on the market.. We, out here are becoming the market makers. AS we go to pure electronic matching.. The old line MMs, specialists, brokers and brokerages will be OUT. We are moving the markets out where they belong, among the people, and WAY from BAY? and the WALL STREETS of the World.. JSP is always dissed by old time market wizzes because they missed the transition to a fast changing market. They, IMO, carried the baggage of past market analytical skills to something new that ..WHO KNOWS HOW LONG IT WILL LAST, but WHEN it STOPS, it doesn't mean IT WILL REVERT BACK to the past..to the days of the divedends and PE's of 10 .. I do not know what it will revert to. I will try to figure it out as it comes. I also do not think change will come overnight. I have followed and participated in the market for over 25 years, traded activily for 10 years. so I have seen some different things . I have probably contradicted myself here but I use these rants to organize my thoughts, if that is possible, because I am a little concerned here now. My indicators still say UP but my emotion says down.. So I have tried to take the big E word out of my actions by trying to think this thing through today. I cruised the boards today. and decided the money is still out there. As well as the "wall of worry". So the combo says , At least we hold our own.. We will see and good luck all.. Coug