To: Kenneth E. Phillipps who wrote (658822 ) 11/9/2004 8:21:10 AM From: Hope Praytochange Respond to of 769670 With the state of California recently having passed Prop 71 (Funding Stem Cell Research with taxpayer dollars) I have gotten a lot of email from people looking to invest in this technology and make boocoh bucks. So people ask me what stocks should I be involved in, what do you think of this having passed it's got to help these stocks etc. So, what I'm about to do is what no politician who values his career (power?) will ever do: Give you what I believe to be the absolute truth. If you are easily offended please just skip this part, because you may not like me by the time I am done. I want to start off just by stating that my thoughts on stem cell research have very little to do with ideology. In fact, I don't have moral quelms about the use of stem cells to help an individual suffering with a terrible disease. I do though have a problem with junk science and with venture capitalists using an emotional issue to bail their asses out of a bad bet, and that is what Prop 71 was really about. If stem cell science had half of the potential that those behind Prop 71 have claimed it does, they would have spent their money to continue to invest in the technology. They would not have spent millions upon millions of dollars in an effort to force the people of California to pay for that research. In a capitalist society such as ours they would want to find the cures and to allow their investments to be propelled higher by the earnings that would result from the miracles that are being claimed possible with stem cell research. The truth however is that we don't have any idea what the potential might or might not be and because of that the venture capitalists decided it a better use of their capital to get peoples hopes up and use the emotional image of sick and suffering people in order to prop up their, thus far, bad investments. So, I would not currently buy any stem cell stocks. They have no earnings and no immediate potential for any beyond what the people of California have been duped into giving them. If you live in the state of California, you are already being screwed by the stem cell research companies and you especially should not invest in them. I hope I am proven wrong and that miracles are just around the corner, but if that was the case the private investment would be there. Only time will tell for sure, but for the time being these companies are pure speculation at best, and outright frauds at worst. So now that I have managed to offend everyone, lets look at the market. So what about the market? Not much has changed as far as I can see. We had a narrow range day today, and normally I would be very excited about the short term prospects of the narrow range, but we have had such an expansion of volatility the last few weeks that I expect more narrowness in the ranges. That means for you Day Traders to SIT and be patient. If you can't do that, just send me a check, I promise it will be less painful. For now I just want to continue to watch the same names I have been listing for the last several days. Pullbacks in them will be buyable so long as the markets hold up well here, which so far they appear to be doing. We do need to see a resting period though before I want to be very active again. I will be out of the office tomorrow but I will be back on the 10th. Brandon Fredrickson manages an investment fund for individuals which follows his market commentary. He is also the Co-Founder of Tradingfrommainstreet.com, one of the original web sites devoted to educating active traders. He is currently living and working in Venice Florida. He can be contacted at Brandonf@tradingfrommainstreet.com DISCLAIMER: Trading in securities may not be suitable for all individuals. Consult your broker or other professional to determine your suitability. The discussions provided by Trading From Main Street are for educational purposes only and should not be taken as a recommendation to buy or sell the referenced security. Past performance is not indicative of future results. Please visit the Support Center to email questions or comments. To UNSUBSCRIBE Click on this and send a blank email to have this email address removed from the Random Rants email list. © 1998-2004 All information presented is property of TradingFromMainStreet.com and Bastiat Group, Inc.