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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"!


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