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STOCKTALK

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

To: TraderAlan who wrote (8009)	4/26/2000 1:00:00 PM
From: LPS5	Respond to of 18137

Alan, Yup. I recently told some people that the steep dip in the fall of 1998 wiped out a few owners of broker-dealers that I know. This time around, it's the individual traders that got hit. Like I mentioned to OZ about a month ago, there was some foreshadowing in hearing both my doorman and the baggers at the Fairway supermarket talking about the market and their latest 'conquests.' There are no guilty people in prison, and tons of geniuses in bull markets. LPS5

To: TraderAlan who wrote (8009)	4/26/2000 1:31:00 PM
From: compradun	Respond to of 18137

I'm still here. Rgds Comp

To: TraderAlan who wrote (8009)	4/26/2000 2:36:00 PM
From: Dave O.	Read Replies (3) \| Respond to of 18137

< I then realized that Mr Market had a major cleanup job to do to bring balance back into the system. I suspect that a majority of the 500-600 folks that I spoke to that day are no longer in the game. > Alan, So do you think most people (especially newer traders) focus almost entirely on the long side? I probably sound like a broken record but I think (and know) one can do well in downtrending markets. As Eric said, risk management is a big part of it. But allocating more of one's account to cash in less certain times certainly doesn't hurt. Bottom line, a market correction would seem to only wipe out those who won't cut losses quickly and/or continue to try to trade long (in a corrective market). Dave

To: TraderAlan who wrote (8009)	4/26/2000 3:11:00 PM
From: aldrums	Read Replies (1) \| Respond to of 18137

Eric and Alan, If this trend does continue, I'm sure all of us will end up meeting somewhere else. SI is like a hot large cap stock. People post here because there is a high "liquidity" of humans to communicate with. (Especially on your thread!) SI currently provides this liquidity but no amount of malicious postings or questionable business practices will quash the human need to communicate--even if SI goes down in flames, which seems highly unlikely. I wouldn't be surprised if the people that are leaving SI will join under different aliases or continue lurking. As long as the liquidity is here it will be impossible for those who "need to know" to stay away. Here is a story that I think illustrates this: I used to work as a waiter in a coffee shop. On one particular Sunday I was working and the restaurant was busy as usual. One of the regulars was sitting in my section and I gave him less than adequate service because of how busy I was. Afterwards apologized profusely but when he paid his bill he declared defiantly in front of the manager, "I WILL NEVER EAT OR COME BACK HERE AGAIN!" I felt real bad. A couple weeks later I was working and I came out from the kitchen to see the same guy sitting in my section waiting for me to take his order. He ate, paid, and left quietly. Apparently everything was to his satisfaction because he continued to come back every week after that. In the year I worked there I had the same experience with other customers. No matter how much they complained they always came back. The truth seems to be if you provide a service that is convenient, cheap, and deliver a good product, it's hard for people to stay away. Also, humans are habitual creatures and we like the familiar. I hope TLC will reconsider having his posts removed. It would be a great loss to this thread and others. I will miss his inimitable sense of humor. See you in Ontario. I'll be one of those shiny, hopeful faces. I don't think I know sh*t, but I want to know, and I won't stop until I am smart as the rest of you. I hope that's the right attitude. Alex A.k.a. ME