Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: nycnpbbkr who wrote (3055)	10/26/1997 11:07:00 AM
From: Defrocked	Respond to of 10921

I wouldn't call a 10% decline a crash. But I agree with you that the "staying power" of many "Traders" can be called into question potentially as early as next week. Not a reason to panic of course but an emerging situation that calls for caution and prudence. Last week BTW I had a "kid" ask me on the Intel Thread how to find a trading job on WS. Talk about naive. SI isn't a job swap forum, not a route to riches without risk, and trading for a living is very difficult. Reminds me of a story: Ned Cook as you remember made and lost a fortune speculating in soybeans and wheat during the huge runup in the early 70's. Several traders on the CBOT were discussing his downfall one day with disbelief and noted that not even Ned could explain how he lost so much money. A very old and experienced trader (had a badge number below 100 I believe) then spoke up. "Why are you surprised about Ned Cook losing a fortune? He didn't know why he made all that money on the way up, so why would you expect him to know why he lost it all on the way down?" Obvious moral of the story...you don't have to be smart or deserving to make money during one of the strongest bull market in history. But you had better be aware that the profits are coming from the risk your bearing or else you'll lose it all back. Good luck to you. Have appreciated your posts.

To: nycnpbbkr who wrote (3055)	10/26/1997 3:03:00 PM
From: Nancy	Read Replies (2) \| Respond to of 10921

To NYC not everyone can do what that person does, (I happen to follow that person's trades for 3 years now) but there are people can make good living in trading stocks. Takes personality, talent, dedication, hardwork to do it but there are successful stories and not just in this incredible bull market. So if you cant do it, doesn't mean others cannot. Instead of losing all his money, I know people make triple digit return consistently. and they do live happily thereafter ... what else is better than work for yourself, call your own shot ?