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

To: dennisp who wrote (13246)	4/24/1999 10:35:00 AM
From: Susan Saline	Read Replies (4) \| Respond to of 43080

re: day trading article: >>>But pros on Wall Street aren't so easily convinced. Most view day traders as glorified gamers. Bernie Madoff is a marketmaker, industry leader, and co-creator of Nasdaq. He has several concerns about the "amateur hour" taking place in the stock market: "This is sort of a bull market phenomenon, and people probably have been successful at doing this because the market has gone their way. [My] concern would be that during a downdraft in the market that people would lose more money than they are prepared to lose." <<< a good article ... more buying lambs re: his concerns: I think this will be a long time coming .... not until the young lambs are out of money to play the game. I see Tuesday Naz drop was panic selling by fear of loss ... were these the "experienced" savvy traders doing the selling? experienced saw it as an opportunity ... the buy on dip syndrome. These lambs see only bull market and great wealth, that may be why the hot 'net stocks' are moving to the moon ... kids and college students are buying them and holding. we have entered a new realm ... the on line trading ... promotes the trading by anyone and everyone. My friends ... not traders ... they buy online ... they hold ... even when stocks go down ... cut in half ... they hold ... Jay's "they always come back" theory. How do we take advantage of this phenomenon? We must think ... how they are thinking ... and see what they are seeing ... get the thoughts of non-traders, as they often see things in a much different perspective than us, who are so close to the action. I told my husband that I bot iTURF, and was amazed that he knew the company and what they sold, he is not a computer savvy person, this tells me, others ... non-traders, will buy this stock ... "name brand" allJMHO Sue