Market Tips
by Metman
A HISTORY LESSON
A
s we enter the second half of the season, as well as the second half
of this contest, I would like to share a few reflections and perhaps
lessons from the first half. For those of us who have been trading on
the MLM since March and April, this will jog our memories, and for the
"new kids" on the board, this is now folklore, er, history.
We've all learned how to short shares from early on when one LDYKS
was on the BIG BOARD. We all knew this guys carrer was over and we
shorted him to the Max! Some days his value would drop $6 to $10 and
then the vultures (profit takers) would swoop down and buy back their
shares and eliminate the drop. These same guys made bundles by
shorting and buying back thousands of shares weekly. And then it
happened --- the bosses delisted dykstra at .12 and he was gone forever!
But the vultures turned their claws on to a new prey, MMCGH, and all
us lemmings followed to the sea. Alas, it was too good to be true and
the stock actually rose, the price was indicating that McGwire would
hit in excess of 80 homers at one point. But the more we shorted the
quicker it rose, we all realized that we were jumping off the
bandwagon and cutting our losses and that's what made the stock rise.
Most of us probably haven't shorted a stock since then, I still cringe
at the thought of my losses!
In early April we had our first round of IPO's. At that time there
were many new commodities listed, DCONW was one in particular that
doubled over night. Most of us remembered that and when May's IPO's
were offered many of us jumped on the new commodities hoping to double
our money fast! Boy! was I wrong. Many of those commodities haven't
increased even 20%. I'm sure many of us sold off shares of KWOOD and
others that we weren't going to sell just to buy up all we could of
those commodities. Did we all learn from it? I did.
Out with the bad times and in with the good! We all have been
pleasently surprised by OHERN, he'll probably finish the season with 8
- 10 wins and over 100 K's.
More good news Al Leiter is probably pitching Saturday (THANK GOD!).
Good Luck and remember -- DON'T SHORT THOSE TEAM STOCKS!!!
------- 'NUF SAID METMAN
Good
luck with your investing and remember you heard it first in "The Ball Street
Journal"!
For all the other insights you haven't thought of yet, hit
The Ball Street Journal.
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