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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: see clearly now who wrote (1050)	11/23/1998 10:35:00 AM
From: Paul Berliner	Respond to of 3536

The internet stocks are being inflated strictly by daytraders. They pass the hot potato all day long until one last guy gets burned. I can't believe that every Tom, Dick & Harry etrade account holder has $20,000 in there to buy and hold Yahoo, Amazon or any of the lower tier crap. Respect the power of the daytrading firms is all I can say. The average leverage is 10-to-1, meaning a kid out of college whose dad gives him $25,000 has $250,000 worth of positions in Yahoo, Ebay, KTel and Dell going at the same time. The time & sales data for each day confirms this - 90% of the trades are 1000 shares lots (soes traders)and there are absolutley no odd lots (thus no 'investors' buying 'em).