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To: GST who wrote (108312)	9/12/2000 2:08:14 PM
From: Eric Wells	Read Replies (2) \| Respond to of 164684

GST - I must concede that I did sell some stock positions this morning - some of my more speculative plays, some of which have been up recently, some down (LBRT, PALM, JDSU and CSCO). I'm about 50% cash and continue to hold some less volatile stocks including DIS, WMT, MSFT and T among others. I've placed stop sell orders for most of my remaining holdings and will wait to see what happens. Why did I sell? Because I do believe that there are still many speculative stocks that are "over-valued" and that in light of the potential negative impact that high energy costs might have on corporate profits, consumer spending and consumer confidence, we could see more selling - especially in the more speculative stocks of unprofitable or high PE companies. I believe there is a chance, however slight, that should we see any significant meltdown that the Fed might actually ease rates - but I'm not banking on this. The exchange with you over the past few days has been interesting. I think you've proven yourself to be more of an alarmist than I am. Your alarmist viewpoint may be justified - but in my view, you might lend yourself more credibility if you provide more data and support for the arguments in your posts (take my opinion for what it's worth to you). While there is some sort of "community among friends" on this thread as you put it, the nature of our mode of communication provides no mechanism for accountability. Since we all hide behind a veil of anonymity here (some have thicker veils than others), I don't expect people to necessarily trust me or accept the things I write without question. It would certainly be possible for any long-term poster on this thread to come on the thread and start promoting a specific stock - and then should that stock collapse, the poster could easily disappear. I would like to think that no regular poster would do such a thing - but as none of us have any responsibility to each other, it's certainly possible. Here, we either rely on each other to be honest - or we interpret each others post with a significant grain of salt. Kis got away with posting all sorts of things on this thread because most people here knew how to interpret his posts. I suppose I'm too pessimistic and distrusting of others by nature. It's funny that a couple of posts back you suggested that I was too reliant on authority - but in truth in my recent posts, I've actually been questioning your authority - your authority to come on this thread and encourage others to sell. In all our exchanges, you've failed to concede the point that your sell call might be open to question - as none of us know who you are, what knowledge you possess or what your motivations may be. I would like to think the world is a wonderful place - a place where I can trust everyone and have no reason to question anything I'm told. But I can't help but feel that adopting such an accepting approach would only serve to make me poorer. Good fortune to you as well. -Eric