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

To: Augustus Gloop who wrote (27039)	4/11/2000 3:22:00 PM
From: Don Pueblo	Read Replies (2) \| Respond to of 63513

I suspect that the only people that made huge profits in the last three days (by which I assume you mean last Wed, Thurs, and Fri) are those that had already take some serious money off the table earlier. Abby Cohen really called the move right, I was impressed with that call she made, I knew she was right when she made that call. The problem with averaging down is that one has already made one bad call. If the deal one is averaging down on then goes below the point where one averaged down, then one has made two bad calls. When I make two bad calls in a row on a stock, I lighten up on the stock. Otherwise, it could get very, very painful. That's what happened to Ron Pollack at Bulldog Capital last week. He took a $350,000,000 hit on Tuesday. I think there are quite a few nervous people out there right now. I think that the ones that held on to their long positions and bought more on Wed, Thurs, and Fri are really wondering where they might have to bail out if things look bad in the next week or two. I think if the market goes down and closes below 4000 and looks weak the next day, those people might just bail out due to fear. heh heh