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Team trading is not for the faint of heart. Some of those wildcard contender stocks are going up and down like Bosses' tempers, and even the top dogs have got to feel hot if you're holding 'em in your hand right now.
For example, a little stock you might have heard of, known as NYYAN, took a $1000-dollar dive just the other day. Sure, it had it coming, but what really interests me is that it plunged on the day of the Wall Street crash. This should tell you traders something about the power of market psychology. I mean, if anything, you'd think NYYAN stocks would have gone up, cause some of that money coming out of NASDAQ stocks should have gone into the Major League Market--but instead, reflex won out yet again, traders got jittery about holding an overvalued stock, and down it went.
We all know a correction is due and now I hope we all know that sometimes a stock price can be a pretty fragile thing. What's the best course of action? In a recent Ball Street Journal, Metman opines:
If that prediction is close to correct, Guru may be the Ralph Acampora of MLM. Of course, perhaps he already is. In any event, people listen to market analysts whether you like it or not.
I get the feeling that a bunch of people have sold off some player stock to jump on the team bandwagon. Don't disregard the players! Player stocks, once a risky growth sector, have become a safe haven for cash that no longer wants to be involved in the playoff fight. I won't name any of the good ones, but some research could pay off.
All I know is, the Bosses what don't own team stocks are havin' the most fun, cause they're just sitting back with cocktails watching all you team traders run around on the Insider Trading Floor.
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