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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (55858)	10/10/2000 7:47:23 PM
From: MulhollandDrive	Respond to of 63513

>>He calls me at home tonight because he was working late trying to get all of his clients out of the market!<< That's the most comforting thing I've heard all day.

To: Oral Roberts who wrote (55858)	10/10/2000 7:49:41 PM
From: Diana	Respond to of 63513

Very illuminating! That would have to make one alert for a bottom if we are still a bull market. A true bear would pretty much scotch the whole thing. Demographics say it can't be a Papa Bear, but I'm not partial to any bears at this point. This whole thing makes me sick to my stomach. becarefuloutthere

To: Oral Roberts who wrote (55858)	10/10/2000 8:04:30 PM
From: Don Pueblo	Respond to of 63513

I have a buddy that has a broker that was all over ALLR at 38, right before it took a dive. Fortunately my buddy called me before he went along with this bonehead's Master Plan. He ended up buying it recently, and he had to talk the broker into it! The broker was pretty depressed, as most of his clients own[ed] the stock at 38 or higher. The dang stock is at 6 1/2! I've only met one broker in my entire life that could read a chart at all. The problem is that they cannot sit around and wait for a chart to bottom out before they get on the phone and tell people to buy the stock. Most people who use full service brokers exclusively refuse to buy stocks that have charts that are heading down. Actually most of those people don't even look at charts. And only a small handful have ever shorted a stock in their lives. The really annoying clients are the ones that made a brilliant call all on their own when the stock goes up, but it's the broker's fault they lost the money when the stock went down. (I know because my cOUSIN used to be a broker.) It's tough! You want the market to go up every day. Especially after last year, when it went up just about every hour of every day of every week. This move is going to create some serious margin calls if it continues. Many people have already lost a lot of money this year, and I suspect that a lot of them went into "gotta buy and make my loss back" mode recently. That's the money that is real hard to let go of, as a general rule. But you're quite right, a broker calling his clients today and begging them to get out of the market is a real good sign that we are near a bottom.