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Technology Stocks : 3DFX -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Lins who wrote (11650)	4/9/1999 7:20:00 PM
From: Patrick Grinsell	Read Replies (3) \| Respond to of 16960

Here's where we separate the men from the mice! There are three different types of 3dfx owners: traders, investors, and idiots Trader: The traders generally looks at technical indicators. Most of these guys will have piled in when we closed above 15 and are looking to pull the trigger at the first downtick. Investor: An investor will have looked at the relatively cheap price (esp. in the 8-13 range) and decided that 3dfx was a good long-term value. The investor usually has set targets in place. These can be either price or event driven. Investors will usually reevaluate the criteria as the fundamentals of the company changes. Idiot: The idiot has a tendency to mix the two strategies and consequently doesn't do very well at all. They either: a) Buy in as an investor but sell like a trader. This means the individual may have been waiting for over a year to make a paltry 10% gain. Idiot(type a) is usually identified by the horror and fixation of the daily fluctuations of the stock price. b) Buy in as a trader and sell like an investor. Idiot(type B) buys the stock as they see it on the move from its "break out" position. If/when the stock declines, Idiot(type B) refuses to admit that they have made a wrong decision and may even double down. Idiot(type B) is usually signified by a string of losers which they've held onto with a death grip to well under 50% of the all time highs. If these guys are lucky enough to hit the Amazon/Yahoo's of the world they can also make good money. I think we have a lot of type A idiots strutting their stuff right now and patting each other on the back. Pat