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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: KaiserSosze who wrote (3568)	11/23/2000 10:57:03 AM
From: Paul A	Read Replies (1) \| Respond to of 19633

You can pretty much ignore everything that guy had to say except the fact that he bought in at $147.00 a share and is still holding.. I can understand people not wanting to play with stop loses like I do, but when do you say 'ok- time to cut the loss'? My God.. When the net stocks were hot, I actually started to believe that every person playing them was a trader, and surely nobody was buying these things for long term holds.. Now I honestly believe that not only the people who bought in at ridiculous prices, but also the people who were lucky enough to buy at the start of it all just sat and held.. and only now that we are at or near the bottom, they are all falling like dominoes.. Look at the charts on ICGE, or CMGI or VERT or any other .com.. The only speculation I really need to get me invested in a stock like ICGE is simply the limited downside.. Downside is zero, but more likely the real downside which is highly unlikely would be what, 2? 3? a poor comparison would have been when Tom played STMP.. The doors werent ready to close since they had decent pile of cash, so it was worth playing the squeeze going into earnings. When the market is so horrendous on the long side like it is now, id rather catch a falling knife like ICGE that can only fall a total of 6 more points rather than try and catch CSCO or MSFT that can easily drop 20 or more points if we get capitulation.. only negative is if the market rallies, im sure ICGE and some of the others that have been slaughtered wont be leading the charge forward. But right now my main concern is keeping as much of my money as possible and limiting the loses.. I was looking at an old favorite of mine this morning, ARXX.. any opinions would be appreciated. I just love the chart pattern 1yr, look at the volume and how it coincides with the big price spike earlier in the year and again a few months back.. Im just going to pick a small basket of stocks that have staying power, and follow them with buy stops so when we do get some footing I can hopefully hit a few on the comeback. Short term looks like a great short- but Im taking things beyong 1 week positions with anything I take on. host.wallstreetcity.com