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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (55067)	9/30/2001 4:07:23 PM
From: Rande Is	Read Replies (2) \| Respond to of 57584

I must say that I am extremely impressed with the sudden burst of interest that this petition has caused. People are coming out of the woodwork to send me email on this topic. The pros are praising the effort with enthusiasm, the cons are trying to thwart or discount the effort. . . with the typical campaign of threats and attempts to discredit. . . .so transparent. Now with as much interest as has been garnered in the subject of naked short-selling by overseas brokerages, it may be time to find some sympathizers in Washington. Certainly there are a number of congressmen who are quickly losing their retirement accounts that may wish to take an interest in this investigation/activity. I believe that each of us need to write our respective congressional representatives. visi.com In my opinion, Pitt is not the person to approach with this petition. Considering his background, he may even be the worst person to approach. As a securities lawyer, his top clients included many of the leading major houses, such as Morgan Stanley. He made $3 million dollars last year alone representing major brokerage houses, etc. Is it my imagination or are the foxes guarding the hen house? I feel that the effort may have a better chance by focusing it toward congressional representatives and perhaps the executive branch, than by trying to peel the perma-blinders off the eyes of the SEC. "Short-selling is good. . . it helps make a liquid market" . . . . NOT THE SUBJECT, Mr. Double-Talk. Stay with us here!! The subject is the recent dramatic increase in NAKED short-selling in the options and securities markets, primarily by foreigners wishing to profit by pounding the already ailing American markets into the ground. . . much like what happened in the early 1930's. Now the Great Slide [not including the Oct. '29 crash] which led to the Great Depression. . . when the markets fell steadily from November of 1929 to Summer of 1932 lasted about 2 1/2 years. If the current slide, which happens to be steeper by comparison, follows suit, we should stop sliding by the end of 2002. And if that is the case, then Heaven help those who lose their jobs between now and 2010, when we could hope to begin recovering. It won't matter if you were a bull or a bear . . whether you bought Amazon at 10 and rode it to 100 or shorted Amazon at 10 and rode it to zero. When there are no more jobs, no more consumers and a depressed economy, there is no more money to make . . . for anyone. . . long or short. That is the wake of a sustained bear market. History proves that. Let's hope it never gets to that. . . and that Americans wake up and decide not to repeat history. Rande Is