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Technology Stocks : OnSale Inc. -- Ignore unavailable to you. Want to Upgrade?

To: PJD who wrote (2709)	12/22/1998 3:38:00 PM
From: James H. Irwin	Read Replies (3) \| Respond to of 4903

<<What is your point ? Are you a daytrader ? if you are then you are part of the "problem" with this stock.....>> Yes I am a daytrader. But I have also held ONSL for a week at a time. I currently have held 20,000 shares of EGGS since I got back from Europe...you can check my posts over there...I have been an advocate of both ONSL and EGGS when they were respectively at 22 and 13...at that time I took a lot of heat from individuals who don't do any analysis. Unfortunately I didn't want to hold them while I went on vacation as I always lighten up to protect my capital...my loss and hopefully many of you reading this gains. However, as an institutional salesman for 17+ years I think I may have forgotten more about trading than you possibly ever knew...and I say that in response to your comment about being part of the problem. Day traders provide liquidity. Now I have not traded ONSL today at all. I am just an interested observer. I sold my stock yesterday at 56 and 60, much to my chagrin at the time, but I was long 4000 and I made a nice 5 figures. But to the point...many of you believe that MMs are the problem...why do you think the online brokerages have curtailed the use of margin on the internet stocks...because many investors/day traders sitting at home just double up...some win/some lose...but I will tell you for certain...unless you have an order on your trading desk very few MMs will take down a position greater than 3 or 4 thousand shares because an adverse move can wipe out their entire day's trading P&L. In the future I suggest you look at the inside market and review who is actually trading the stocks...also familiarize yourself with who are the ECNs...examples of which are: ISLD, TNTO, REDI, BTRD, INCA, BRUT, USCT and ATTN. Watch where the guys who actually do research on the stocks and take your cues from there. Otherwise do your fellow thread observers a favor...do your work before you popoff! Lecture over.