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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: avanti77 who wrote (11347)	4/12/2000 2:24:00 AM
From: DOUG H	Read Replies (1) \| Respond to of 19374

Hi Donna, I'm taking a waxing to tell you the truth but that's what the market is dishing out right now. My guess is that a lot of the cheaper shares are ending up in the portfolios of the same people that are beating them down now. Think about this for a minute, how and when did Microsoft become perhaps the most widely held stock on the planet? Was'nt it at some time a highly speculative stock? Was it a bubble? Or was it a giant in the making and the investment houses accumulated on every dip. Only to later to trot out there analyst with ever incresing "price targets". Bring em down, accumulate, bring em back. This market is an efficient vehicle for transfering wealth. Bring em back, use the sale of a few (100's of thousands) at the highs to begin a slide which accelerates to a Gumbyspasm dumpfest, (time to reaccumulate at lower levels), Time to bring em back again! The intraday charts of about a dozen stocks are etched on my mind. At around 11:00 the marketmakers started backing off of bids and accellerated the slide. At 1:15-1:20 someone/something stepped in at the same time on all these issues and began buying them HARD! They were probably buying on the way down as well. We'll not see those levels again because that's the level the market manipulators bought at. The only reason we'll see those levels again would be if they want more cheaper shares before they bring it back. The frustrated little guy gets told, "this is why you need an investment manager because you can't succeed on your own". "We'll just charge you a percentage of your assets and we'll underperform the major market averages." So what am I doing? I'm learning sister. I'm trying to learn how these markets really work and how I'll participate but I aint quittin! Last year I outperformed 99.9% of all mutual funds. This year it's still the case. I'm not braggin, I know a lot of folks who beat the pants off of me. I'm just saying that until someone else can do better, I'll keep handling my own dough. Besides, with cyberbuddies like you, Vendit, and all the others on these threads, WE can do far better for ourselves than we'd do on our own, and have a ball doing it! Wow! That turned into sort of a rant, oh well, I'll post it anyways.