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Technology Stocks : Globalstar Memorial Day Massacre -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (416)	10/10/2000 6:55:41 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 543

Oh come on LG, anyone posting in Anthony@'s SI site [I haven't looked at his own one to any extent] is thereby a fully-fledged cult member. Maybe I would respect Anthony@'s abilities, but all I have judged from is his Globalstar stream posts, which to me were not worth reading. He was the 5th person I have clicked 'ignore' on [now removed] in nearly 5 years in SI. I haven't seen any short comments [other than Valueman, Geoff Goodfellow, PCStel, Tero and maybe a couple of others and they are none of them short now and I don't think Vman ever was] worth reading. Jetter's were a joke. LarryL who went down in flames with Iridium used to try to reason, but he ignored argument and simply made assertion. It's vital to know when one has got things wrong. For example, when Mama Bear pointed out I was wrong about Anthony@, I immediately assumed the worst, [that I was wrong] and went and had a good look and concluded that I was wrong about the two offences. TA is a trap for novices who think they are competing with other people and their emotional reaction to stocks. They are not. They are competing primarily with models of stockmarket behaviour [such as those you use]. The best models will win. Yes, there is plenty of emotion still in markets, but the scale of model use is so large that I'd be surprised if the human component is the more significant now. Many people think they can track a few heads and shoulders, throw in some stochastic mathematical sounding graphs, check the MacD, cobble together some price-breakout angles, mention a rounding top and a couple of rounded bottoms and think they are on a winner. There are far more sophisticated models being used and the models are predicting each other's behaviour in a feedback loop. Check out Long Term Capital Management for some serious experts who thought they had the 100 year flood factored in. They didn't allow for a little butterfly crashing in the Siberian wilderness and that, combined with a big low pressure zone in the financial markets and some Asian Contagion took them to the financial event-horizon and Alan Green$pan. That's part of the fascinating saga which is Globalstar. Globalstar's Zenit rocket was the butterfly. Most people don't know that Long Term Capital Management had a decent position in Globalstar and that triggered the fun that followed. I doubt you've read much of what I write if you think I write well-worded flames and that's about all I have to contribute. But suit yourself. Okay, I too use TA to buy and sell [I waited until Globalstar went all the way down from $53 to $15 before deciding that was a TA enough place for me to buy]. So I wouldn't say that TA is pure mysticism. But I think there is a lot of [nearly all] twaddle involved [from what I've seen]. With LWIN, I waited until the price went from $4 post issue low to $93 and then sold. I didn't want to own it but was not prepared to sell it for less than book value [given they had good prospects]. Then, when it zoomed, I figured I'd wait until the zing went out before quitting. So, call me a hypocrite! Mqurice