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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: edamo who wrote (5963)	4/4/2000 8:46:00 PM
From: Jill	Respond to of 8096

Hi ed, no I wasn't panicking, I'll wait 2 weeks also. But I appreciate suggesting Oct. I was at the dentist today, and it was so funny. I walk in talking to Poet on my cellphone, and the office manager sitting behind the desk is a guy in his late 40s who is talking to a friend on the phone about the NAZ, and has his stocks up on the screen. The guy and I start talking soon enuf and we say what probably every American was saying today, i.e. "The MSFT case really means nothing, it's just litigation for 2 years, they'll never break up the company...it's a funny day when I lost more on my portfolio today than I had in total a couple of years ago, maybe that's a lesson...I'm just holding, luckily I'm not maxxed out on margin...I've had to learn that long-term is not today at 4 o'clock..." Etc etc. So I said, tell me what some stocks closed at, and I was stunned to see that while I was hiding my head in the sand (not enough cash anyway to do much) NTAP dipped down to 45--I had picked up more at 80 recently!--before it closed at 67; etc etc. Everything was a bargain today at the low, but of course, who knows if it IS the low. I also recently bought an earplug/mike device for the cellphone. He asked if it worked and if I walked along with the phone in the purse while I talked. "I haven't tried that yet." He'd seen someone doing that recently and at first thought he was a street bum having a conversation with a phantasm, but then realized he was talking into the little mike on his cellphone earplug device. I mention this for a few reasons: one of course is Qualcomm, and more important, the zeitgeist, the way average Americans are these days. There is panic, yes, but basically Americans everywhere are investing, and are participating in technology, and probably most of us today were basically wincing, and moaning, and holding onto our portfolios. It's a way of life and it can't be stopped and I don't think the bottom will truly crash out of it (course I could be wrong). Anyway, I think days like today remind me one should ALWAYS keep some dry powder around--and I don't mean margin capacity, as that can radically change on a day like today. We'll recover. The good companies with good fundamentals will solidly bring profits over the long term. And today was a day for bargains like we haven't seen in a long time--and I couldn't buy any of them.