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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: DaiTN who wrote (76601)	5/26/2002 7:09:03 AM
From: The Street	Respond to of 122087

<< ...Assistant U.S. Attorney Ken Breen told the judge that Elgindy also telephoned his broker on Sept. 10, asking that his children's $300,000 trust account be liquidated. >> Wow....

To: DaiTN who wrote (76601)	5/27/2002 1:06:27 AM
From: Nazbuster	Read Replies (1) \| Respond to of 122087

re: "Will some of Tonys' worshipers come forward and enlighten me on this? " Yes there is a very clear explanation. Can you get off your soapbox long enough to have an open mind and re-read carefully? Tony was urging all of us NOT TO SHORT into the panic. Right there in his message (which you quoted) he acknowledged that many people may panic or have a need to sell stock. He wanted us to "resist the urge to take advantage of this dire situation" -- meaning don't short into the selling to take advantage of the subsequent price drop. He did NOT urge us to hang onto our longs as they lost value. Granted, this is a subtle difference, but a key one to illustrate the motivation for his comment and to show it was NOT in conflict with his decision to sell the kids' accounts. Tony never liked being long. He acknowledges that he is not a great trader from the long side. He had loaded up his kids' accounts with bigcaps like MSFT, ORCL, CSCO etc.. and was taking a beating in the selloff prior to 9/11. He capitulated, plain and simple. Before even placing the order, he told the group he was selling all his longs. He was bitching about the market and predicted that the economy would remain weak and the DOW would drop through all support. As far as your comparison to TJ is concerned, you conveniently forget that TJ systematically told his group to buy while he was selling into the runup. He engineered the P&D. Tony always announced his trades BEFORE he submitted them.