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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (18893)	1/31/2001 10:12:24 PM
From: Steve 667	Read Replies (1) \| Respond to of 60323

Limtex, I really think people over-rate the influence of "the shorts" when it comes to having an influence on the price of a stock. First they make up a very small percentage relative to "longs". Second, the "shorts" have had their lunch handed to them for about the last 8 or 9 years and I am surprised there would even be any left. You think you are depressed. Imagine a short going through what you are going through for 9 years. You are only on your first year with 8 more to go. No, I think it is more a lack of buyers. There will always be sellers for many reasons so if there is a lack of buyers to meet just normal selling, the stock will go down. Somebody named Jim Sibbet told me something many years ago that I thought was very profound and I never forgot it. Before I tell you what it is, let me relate a conversation I had at a large party last March. A friend was telling me that he and his wife would try to guess how many minutes it would be whenever they went out and met with other people before they mentioned the stock market. The average was less than 5 minutes. He also said that he didn't even know anyone who was not in the stock market big time. Not his barber, his waitress, his mechanic, his golf pro, his gardener, his brother, the checkout lady at the Ralphs, his cleaning lady, even his hooker. I stopped to think and I could not think of anyone who was not in the market. I had previously decided to be completely out of stocks by mid May. I should have been premature. I should have remembered what Jim Sibbet had told me. Here is what he told me so many years ago: WHEN EVERYBODY IS IN, WHO IS LEFT TO BUY? and WHEN EVERYBODY IS IN, HOW MANY SELLERS ARE THERE? These are matters of great consequences. Everytime there is a share of stock sold on the Nasdaq, somebody is right and somebody is wrong. Steve 667