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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (5357)	10/3/2000 9:24:54 PM
From: RR	Read Replies (2) \| Respond to of 65232

Hi Troops! Any bulls on here? Little nasty in here isn't it. Well, the market does that. It ain't pee-wee league. Are you buying? Why not? Scared? It is best to be cautious until you feel sure that you are doing the right thing. Stay cool. Like I said the other day, try not to sell in this mess unless you have to. Hopefully you have a longer term focus and can ride it out. Interesting. All you people that keep talking about Naz 2800 and 3000, why aren't you in cash? Why not buy a lot of puts? Not a whole lot of reports of folks doing that. Talked to two full service brokers today. Each worked at separate big name firms. I used them both years back before I started doing this stuff myself. Neither one was worried. Asked them both point blank what was going on and if they were buying or selling. Know what they said? "We're buying and have been for days." Asked a close friend to call his full service broker today at another big firm and ask the question "are you worried." Response, "no." Are you buying? "Yes". What? "JDSU. (BTW, I really liked that answer given my bullish view of JDSU). Anyway, I told my friend today that I had not seen the panic from friends and broker folks like I'd seen at times in the last 30 plus years I've been doing this. Consequently, I was sort of curious what the brokers at these fancy firms really thought. That's why I started asking around. Just FYI..... I've been out of pocket the past week or so. Probably good given the market. Good time to get away from some of this and not get anxious with the market. I am disappointed we went below 3500. The bull in me said hold 3500. Also, very unhappy with the darn Feds today. Well, we may go lower, yes, but I am going to keep it in perspective and focus longer term. I am concerned about forward guidance comments coming from earnings conferences. Jim Willie and I have been saying that for sometime. That's probably as bearish as I get. I still strongly feel that there will be many money making investments going into 2001 to capture. Realistically, 5000 will be a real challenge from here, but, it still can be done. Look at what we did last year at this time up to the new year. FWIW, I'm still buying in here. Little here and there. So anyway, Troops, hang tough as best you can. Try not to overreact but play it safe. Preserve capital rule 1 ya know for those in options or margin where you might get stung. Careful. Good luck. RR

To: Voltaire who wrote (5357)	10/3/2000 11:25:50 PM
From: Boplicity	Read Replies (2) \| Respond to of 65232

re: Psychological The market is ruled by investor Psychology more then ever before, it's being shaped real-time too, by the constant and increasingly prevalent access to what is happening, and the increasing awareness to the market by the general public in greater numbers. Meaning, we have a lot of non pro's with the buy/sell button under their control without the hand holding of a broker and the delayed action of having to wait to take action in order to make a more measured decision. It so cheap to get in the door now too. We have kids still in school (15 years olds no less), to grandmas sitting at kitchen tables thinking they know what is happening and how to play the game, but in reality few do. That's why we have the action we have and will continue to have. So, it's great for traders but bad for investors. I like this selling to tell you the truth. It's sobering, and teaching a generation of investors that buying the dip is not the right thing to do every time with every stock. Not to mention it was getting real hard finding a good stock to ride longer then week. <gg> Sickening how many failed rallies I have seen. Hopefully this selling will cause more research and more investing, I doubt it though. Greg