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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Jane4IceCream who wrote (92950)	4/4/2000 8:40:00 PM
From: gizmo&jack	Respond to of 108040

Hello everyone. Interesting day, huh? The really good trader would have been 100% cash at 1:00 and plowed it all into a couple of oversold giants to reap a 25 to 50% return. I guess I am not a really good trader. Had the first part right. Sold ASIA at the open at 56.375, a great move, and was shocked that it gapped up given the horrendous Deutsche recommendation which prompted my order. Loved the stock too long and the recs were just terrible. But SLAB and WEBM had more than made up for it and I have been solidly in the black during the massacre. So I had 100% cash ready to really fire on the rebound and just didn't have the guts plain and simple. Let's face it. No one had a clue what was going to happen at any point during the day. The thread had no conviction and neither did I. And I invest when I see patterns form; I have never liked to gamble. But it really was a fascinating day. Haven't seen anything like it yet and we've all seen alot in the past couple of years. One of the most effective stock market manipulations, if not the most, ever in the new media age finally came to a head. Full blown warfare. I feel for those that got burned badly. It was disgraceful how this went down. Some guy comes on CNBC today saying that we'll see a rebound because nothing fundamental caused this. Yeah, where was he last week? Next time, it won't be so easy. Because many are going to throw in the towel with internet stock investing. Only the truly savvy will remain and they won't listen to CNBC riff raff. But of course that may create less volatility which is the best friend of a good trader so I am not sure how I feel about this overall. Doesn't really matter though in the short term, because I expect that this will happen over an extended period of time. It is clear though that institutions are now clearly looking to devise strategies to take advantage of the retail investor. It is blatant and one day, there will be a Sunday night movie on days like today, if not this day itself, and what went on behind the scenes leading up to it, the corruption, etc. and we will all think back and remember (and hopefully smile).