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To: GraceZ who wrote (40371)	5/28/2002 1:08:09 AM
From: Shack	Read Replies (1) \| Respond to of 209892

Yes its mostly a joke, but in many cases I am sure its not. OK, maybe they didn't directly use their credit cards or anything but I'm sure many folks who are carrying moderate to large amounts of debt are/were in the market, especially the 25-40 year old crowd who did not benefit from investing in 1982 and inevitably weren't as prudent as the little old ladies when they eventually did dive in. And the fact of the matter is if you avoided tech completely from day 1, the market is really only about 10-12% off its all time highs (as measured by the XMI). These are your little old ladies no doubt. I fear the trillions wiped out in the tech debacle were lost by folks who could probably least afford it. And this would also be the group which we would need to push the market higher from here. Old ladies ain't gonna do it. This is all IMO and anecdotal of course.

To: GraceZ who wrote (40371)	5/28/2002 10:18:09 AM
From: gsp6181	Read Replies (2) \| Respond to of 209892

"The sad secret everyone who works in the business knows but nobody ever tells traders is that traders make a lot of money and then they lose it all. Its little old ladies who die rich." Grace, Of course this does not need to be the case. The few disciplined traders that I know put their profits into conservative instruments and only trade off of a limited amount of principal - thereby joinging the little old ladies. Why do some traders "swing for the fences" as in the case [supposedly] of Jesse Livermore. Ego, compulsion, meeting some subconscious need? George