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Strategies & Market Trends : Position Trading Forum -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Joo who wrote (6671)	11/12/1998 1:02:00 AM
From: Jeffrey Lee	Read Replies (2) \| Respond to of 7247

Ahh, come on now, Anyone who expects to be held by the hand, led to the well, then taught how to drink needs to rethink their presence in this marketplace. Those of you who jumped into NEWZ without any real DD have nobody to blame. I bought into this stock back in June and July. Like many investors I then began to follow the respective threads for this company (SI, YHOO, etc.). This stock had been and is presented as an internet-related investment with a target price of around $18-20. I bought in in around $10. The stock certainly never really took off and drifted down (especially in the turbulence of early October). The SI NEWZ thread became an unpopulated place with only a few regulars who had likely also purchased in the $10 range. These people were willing to wait it out. When it fell below $5 I'm sure most were telling themselves, "If this sucker ever gets back to $10 I'm out of here!". If anyone had bothered to ask for opinions on the NEWZ thread prior to buying perhaps they could have received a balanced perspective on the stocks' performance for the last six months. It has moved like this before. It has retreated as well. IMHO the recent news (no pun intended) is seemingly no more significant than other events and not meaningful enough to motivate me to increase my holdings (though it is no ones' business I have gone from 5,000 shares down to 500 as of today). The recent interest in this stock provided an opportunity for the older holders of this stock to get out. This is the over- hang resistance existing at the $10 level. There is a rule of thumb about information in the markets that is useful: "Those who say don't know, and those who know don't say". From the outside looking in, Tim appears to be a fairly savvy investor but more specifically he enjoys the interaction and involvement of posting comments and trading ideas. It does get pretty lonely being a day trader and it is often a needed change of pace to post something to feel a part of the cyber social world in print as well as in cash. But, IMO this inter- action is primarily social --trading, however, is about money. No expectations, no obligations, and no promises. They say that in the land of the blind the one-eyed man is king. Perhaps, Tim had a gut feeling about the market. Perhaps, he logically put stop-loss orders on his stocks before exiting the house. In any case, it's better to be the one-eyed man than the blind. Get a clue, people! This was no pump and dump. This was trading exuberance (sorry Mr. G.). There is no way that Tim's shares brought down this stock from $11. It was all of us who bought at $10. Do your own homework and quit bitchin' blind people. No one watches your back in this market place. Wise up.