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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: tekgk who wrote (15030)	3/19/1998 11:42:00 PM
From: Bilow	Respond to of 18056

Hi tekgk; Yep. You don't even have to have any trading to destroy wealth. BRE.X didn't have to trade in order for its owners to lose it all. I think a lot more people are in cash than is obvious. I have found one more at work who is, another grizzled engineer. My day-trading class has 4 days gone by. I can now buy and sell (in demo mode) nasdaq stocks using four different techniques: SOES, ISLD, ECNs, and Select-Net. The terminal is normally run without any use of a mouse. This allows touch-typing, in order to minimize execution delays. You can place trades with an amazing speed, and you have a visiblity of what is happening in the rest of the market that is hard to imagine. For instance, you know whether Goldman-Sachs is buying or selling a particular issue. It is major cool. I expect to be sitting behind a high speed level 2 nasdaq screen the next time the market goes into major oscillation mode, and I expect to surf it on both sides. :) Wish me luck. -- Carl

To: tekgk who wrote (15030)	3/20/1998 12:38:00 AM
From: Bonnie Bear	Respond to of 18056

I guess you never know until you look back on it years later. The herd, in our markets, seems to be our pension plan managers. So we won't know how much vanished until we try to collect on it in twenty years. WRT Japan trillions: a lot of that money ended up in the U.S. stock market. Our bear may begin as soon as there's incentive for the money to go home. WRT to 2% of the people owning 95% of the wealth: they got it from a combination of inheritance and appreciated stock assets. They did not get it from sitting in cash earned from their day job. WRT to bargains: there are real estate bargains and stock bargains galore, right now. Nobody wants foreign stocks, they're been in a churning bear for so long that anybody buying them is nuts.

To: tekgk who wrote (15030)	3/20/1998 2:50:00 AM
From: sea_biscuit	Read Replies (1) \| Respond to of 18056

The herd has always been wrong historically. James Grant has said that there is only one settled truth in the world of finance, and that is : "People always overdo it". They get too bullish at the top, and too bearish at the bottom. No matter how different this bull-market is from any other bull-market in history, there is one truth that stands eternal -- people always overdo it. If there is anything new this time, it is just a few more bells and whistles. Dipy.