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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (26214)	4/5/2000 12:18:00 AM
From: Junkyardawg	Read Replies (1) \| Respond to of 63513

Talk about fear...I have a very good friend that made a couple of mistakes and he lost everything today. He went totally bankrupt. Lost everything and not just his trading account money. I feel very bad for him. dawg

To: Jorj X Mckie who wrote (26214)	4/5/2000 12:56:00 AM
From: Doppler	Read Replies (1) \| Respond to of 63513

There was definitely fear, and lots of people felt it. But like you said, you were buying. Lots of others too, and besides being short term very oversold, there was no reason to be buying. PnF gave a sell signal but people were buying ?. When you look up "the ugliest chart pattern in history" in the PnF handbook, it has a chart like today's. Other than a short term trade off of a long tail reversal, it only makes sense if they are confident, not scared to death. The biggest reason though, is talking and listening to the "common folk". At work, and on TV, all I heard all day was "so what, it'll come back, it always does." and "I'm in it for the long run, this drop doesn't matter". That isn't fear. That's complacency and we can't find a true bottom until it's gone. JMHO, although on Feb 24th I did call for a coming correction in the major averages all the way back to the 200 dma. Some of my post was even quoted in threadtalk. I could be wrong, lets hope so. Jeff

To: Jorj X Mckie who wrote (26214)	4/5/2000 1:11:00 AM
From: Cheeky Kid	Read Replies (2) \| Respond to of 63513

On all of our TV stations they were interviewing market professionals from major firms, basically trying to calm investors. And these guys were saying that a lot of this was just plan PANIC selling. I think the fear will subside soon. Just my opinion, and I am still holding my stocks till at least later this year, if not much longer. I am not joining the panic and selling. I am down from my purchase price, but I feel the companies are posed for major growth and will recover nicely by later this year.