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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (14276)	9/25/2001 1:21:29 AM
From: Apakhabar	Read Replies (1) \| Respond to of 18137

Can't imagine a halt on short selling. The markets are IMO behaving totally within the rules of the game as everyone has understood them from day one. Eventually, prices tend to go to extremes, so what? This is just an old pol looking to score points with his constituents by showing them how much he cares about their losses. Amazing how much guilt so many people feel nowadays for not "calling" the top!

To: TraderAlan who wrote (14276)	9/25/2001 9:19:02 AM
From: exdaytrader76	Read Replies (1) \| Respond to of 18137

Hopefully Harvey Pitt has a little more sense than Arthur Levitt. I lost all respect for Levitt when I read the transcript of his Congressional testimony during the day trading "inquiry" and he said that day traders should all use Ameritrade and E-trade because the commissions are lower. (!) Banning short selling sounds ridiculous, but I am hesitant to underestimate the knee-jerk remedies of the ignorant and powerful. The need to have a scapegoat is very human - people feel better when they have someone to blame. On the how-low-will-it-go note, are the fib retracement percentages from 9/10 to 9/21 significant here as resistance? Aren't we also supposed to short the first bounce from a breakdown? I am comically inept at wave counting, but those two things would be enough for me to be short - if I was either allowed to carry overnights or had any money of my own. As it is, I guess I am only un-patriotic for brief intraday periods. I figure if this is true, then I make up for it by being extra patriotic when I cover a few minutes later.