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

To: exdaytrader76 who wrote (15165)	2/4/2002 10:07:28 PM
From: Dan Duchardt	Respond to of 18137

But not the only segment, right? Right The market isn't going to close, right? Not likely, but look around. There are a lot of people who used to derive an income from being part of the market establishment who are out of a job. There are a lot of people who were given stock options in companies that were a pipe dream in lieu of wages who can't even pay their taxes on fictitious income they will never get to spend. There is growing sentiment among investors who would have been content to continue to invest, had there never been a bubble, that the market does not deserve access to their resources. How many new companies will never get off the ground because so much capital was squandered on companies that never deserved the fundiong they received? We will never know. How many IPOs have you seen lately from companies that have a real product or service to offer and a sound business plan.? Everything was going straight up for a long time. Was that a "good" market? Maybe if it had not gone up so much, it would not have made so many people lose so much money more recently. Maybe it was "bad" when it was skyrocketing? Assigning good/bad judgements to the market seems pointless. Like disapproving of the weather, being mad about something that just is, and is out of one's control. You can come to your own conclusion about "good" and "bad". I never suggested that the run up was good and the decline was bad. Time has proven that run up in the Nasdaq was nothing but a speculative bubble that in the long run was not healthy for the economy, nor for the well being of masses of individual market participants. You aspire to be a successful trader. I wish you well. So far, by your own admission, your goal has been elusive, perhaps because through no fault of your own you happened to start your endeavor in this particular market environment. Perhaps a somewhat tamer market would be more conducive for you to acquire the skills you seek to develop. You are quite right that individually I can do nothing to change the market. The best I can aspire to is adapting my own behavior to what exists and do the best I can to make profitable decisions. I happen to believe that is not the case for all market participants. There are those who have some degree of control over what goes on in the market, and there is a lot of justifiable suspicion these days that their power has been and continues to be abused. I'm not in that position, and there is nothing I can do to change it, but as with the weather, I only have to live with it. I don't have to like it. Dan