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.

Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: jbe who wrote (659)	10/29/1997 2:13:00 PM
From: GeneM	Respond to of 12617

I can honestly say that I've never been a fan of the Washington Post for just this reason: any fool that would claim that the sell off was the result of professional day traders has to have his/her head up his rectum! Most Day traders that I know act on momentum of some kind. I can't believe that any responsible journalist would make that kind of statement. One thing, and one thing only caused such a sell off: institutions; those same institutions that are supposed to be protecting the assetts of widows and orphans, succumbing to crowd think. Supposed fundamentalists! As a day trader, I thank the lord for such people, I love em. If it werern't for them I never could have gotten into DELL @ 75, and less than 4 hours later, gotten out @ 89 1/2. 14.5k in less than 4 hrs., and the fundamentals never changed. You figure it out. GeneM

To: jbe who wrote (659)	10/29/1997 2:52:00 PM
From: steve goldman	Respond to of 12617

Professional traders absolutely were buying and selling, mostly on behalf of individual investors for mutual funds and hedge funds. While I would love to have that kind of influence, most intra day traders dont have that kind of capital and persuasion. Nonetheless, day trading has been something that has existed since the markets first traded securities. iffy market....good day, relatively speaking, some profit taking from yesterday's advance. still some great prices out there on some quality stocks. Regards, steve