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  • ByVolume ByVolume Sep 19, 2000 8:41 AM Flag

    God Fortune & Chin Chin � ByVolume

    bigtrough >ByVolume, I owe you on HLT. Nice. I
    feel sorry for my friends at TTN. I pulled the plug
    awhile back. I am preserving capital these days for the
    lows that are coming.

    Thanks and sorry for my
    ruddiness in the past. My karma seeks peace accompanied by
    reasonable profit.


    Chin Chin

    Chin, which has always stood for �To your Health�
    features traditional Chinese

    A very good article in
    the Fortune magazine (October 2,
    2000) the latest issue on the Internet
    The Economy

    From Here to Uncertainty
    The economy and markets
    have steered one another to points we've never seen
    before. So where are we headed now? Here, some

    When Is a Bubble Just a Bubble?
    Are we still in the
    early stages of profound and permanent changes in the
    way companies around the world will do business? As
    long as everyone believes, VCs will become really,
    really rich.

    ByVolume: Bigtrough, Sometimes over
    confidence in the Stock Market can be hazardous to your



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    • Selling Stocks To Cut Losses

      Click on IBD Learning Center

      Introduction To
      The IBD Learning Center

      Course I � How To
      Select The Right Stocks At The Right Time
      Course II �
      How To Sell Stocks To Maximize Your Profits
      III � Tour Investor's Business Daily

      Stocks To Cut Losses

      "It's a dangerous fallacy
      to assume that because a stock goes down, it has to
      come back up. Many don't, and some take years to
      � William J. O'Neil, Chairman & Founder of
      Investor's Business Daily

      Cutting Losses, continued

      Cut Your Losses Early
      The first rule is
      sell any stock that falls 8% below your purchase
      price. Why 8%? Because research shows stocks showing all
      the right fundamental and technical factors in place
      and bought at precisely the proper buy point (which
      is explained fully in the �Using Stock Charts To
      Round Out Stock Selection� lesson of the stock buying
      course) rarely will retreat 8%. If they do, there�s
      something wrong with them.

      You may think a stock is
      due to rebound. But the market could send the stock
      to lower depths regardless of your views or what
      analysts and commentators say on TV. No excuses, no
      alibis. You may want to sell even before an 8% loss if
      you see other signs of weakness in a stock (we�ll
      explain these throughout this course).

      This rule
      emphasizes the importance of buying at the right time. If
      you don't and you buy a stock that is overextended
      (that's reaching the end of its climb), chances are it
      will hit the 8% sell level as it goes through a normal
      pullback. Make no exceptions to the rule. The best stocks
      will always give you other opportunities to buy.
      Here's another way to look at it: Once a stock falls 8%
      below your cost, does it still look attractive? Is it
      still among the best stocks? Probably not. There�s no
      guarantee that it will go back up, and you need to protect

      The bigger the fall, the harder it is to recover. Say
      you bought a stock at $100 a share. It falls 20%, to
      $80. To get back to $100, the stock has to make a 25%
      gain. Another example: The stock plummets 50%, to $50 a
      share. It would take a 100% jump to get it back to $100
      � and how often do you buy a stock that doubles?
      And if it does, how many weeks, months or even years
      does it take to get there? Wouldn't you rather cut
      your loss early, and free up money to purchase another
      stock with better chances of doubling?

      for listening and Good Luck in Your



    • <EOM>

    • August 15, 2000��..929,730
      September 15, 2000� 710,276
      Decline = 24%
      Avg. Daily Volume = 327,4000


    • But the boom times of recent years have moved
      mundane items like energy efficiency, and U.S. dependency
      on imported oil, completely off investors� radar
      screens. So, not only are investors shrugging off the
      rising oil prices, but it�s gone largely unnoticed that
      oil-import dependency has not only deteriorated to the
      previous dangerous levels of 1973, when 34% of U.S. oil
      consumption was imported, but exceeds those levels, with 48%
      of U.S. oil consumption now imported. The average
      fuel economy of new cars and trucks has actually
      declined 6% over the last 9 years.

      And what about
      our individual reaction to the rising prices? Do we
      really care enough that it costs $8 more to fill the gas
      tank this year than it did last year, to cut back on
      our driving? I don�t think so. But then, even in the
      previous oil crunches, it wasn�t the rising price that got
      our attention as much as the shortage of available
      fuel, the frustration of the long lines at the gas

      So crude oil prices have almost tripled in less than
      two years? Gasoline, heating oil, and other energy
      costs are rising as fast as in any previous oil crises?
      So what? Sure, gripe about it some. But as long as
      the fuel is available and the economy is booming, and
      stock prices are holding up fairly well, who cares?
      Meanwhile, Washington is certainly too pre-occupied with
      getting elected right now to bother with anything as
      unimportant as oil prices and the economy.

      However, it
      seems that each of the previous periods when oil prices
      soared, were dire for the economy and the stock market.
      Investors might find it beneficial to take their eyes off
      the excitement in the Nasdaq long enough to keep up
      with the developing situation regarding OPEC, and the
      already substantial spike-up in oil



      by Sy Harding

      Did we
      learn anything from the rising oil prices created by
      the 1973 Arab oil embargo, or OPEC�s doubling of oil
      prices in the late 1970s, or the spike-up in oil prices
      during Iraq�s invasion of Kuwait in 1990? There may be a
      lesson to be learned, since each of those previous
      periods was followed by a recession, and accompanied by a
      bear market for stocks.

      For a long while it
      seemed like the world, and particularly the U.S., had
      indeed learned a great deal from the 1973 oil embargo,
      and particularly after OPEC increased prices
      dramatically again in the late 1970s. Determined to no longer
      be dependent on imported oil for 34% of its oil
      usage, the U.S. began an impressive push to decrease
      overall energy consumption, while simultaneously
      encouraging use of alternate fuels.

      Congress enacted
      55 mph speed limits, and mandated increasingly
      strict fuel efficiency standards on auto manufacturers,
      which ended the era of fuel-guzzling behemoths. The
      Energy Department was created to develop a national
      energy policy. Housing codes were introduced that
      required substantially increased energy efficiency in new
      homes. An effective educational program had us all
      re-insulating older homes, using wood-stoves, and comparing
      energy-efficiency ratings when buying appliances and electrical
      equipment. That in turn had manufacturers determined to
      produce the most energy-efficient products possible.
      Incentives were offered for development of alternative
      energy sources, and many electric utilities and large
      companies switched to coal-fired equipment, so domestic
      coal production increased.

      It worked
      surprisingly well. From 1976 to 1985, the average fuel economy
      of automobiles nearly doubled. The other initiatives
      contributed proportionately, with the result that between
      1977 and 1985 the amount of oil being imported into
      the U.S. declined by a significant 31%. With demand
      down, the price of oil, which had peaked at $53 a
      barrel in 1981, was under $20 a barrel again by

      Unfortunately, higher oil prices are like interest rate hikes.
      Once they begin to rise it takes some time for them to
      filter down into the broad economy where their effect is
      noticed. By then the damage to the economy is frequently
      already irreversible.

      The OPEC countries ended the
      1973 embargo in 1974 and began shipping oil again. But
      the world had already been thrown into a serious
      economic recession by the inflated energy prices. Being a
      forward-looking mechanism, the stock market had already
      anticipated that outcome, and had entered the 1973-74 bear
      market (in which the Dow lost 45% of its

      Sharply rising oil prices again in the late 1970s,
      accompanied by soaring overall inflation, resulted in
      back-to-back recessions, in 1980 and again in 1982. The
      stock-market, anticipating the problems again, was hit by a
      bear market from 1978-1980, and another from

      In more recent times, another spike-up in oil prices
      took place in 1990, a result of Iraq�s invasion of
      Kuwait, and the U.S. intervention with Desert Storm. Oil
      prices quickly rose 60%, from $15 a barrel to $24. Sure
      enough, the last economic recession in the U.S., and bear
      market for stocks, also took place in

      Therefore it seems that investors should be paying more
      attention to the current situation. Oil prices almost
      tripled, from $13 a barrel early last year to this week�s
      $37 a barrel, before backing off some.

    • Get a life you geek.

    • Adviser to traders of the twenties: William D.
      Gann, born and educated in Texas, arrived in New York
      in 1903, working as a registered representative, a
      stock market letter writer, and an analyst until
      In that year, Gann launched forth with his own
      advisory organization publishing a market letter called
      �Supply and Demand.�
      He is remembered chiefly because
      of eight books for investors, widely known in their
      The best known were Wall Street Stock Selector
      (Financial Guardian Publishing Co., 1930); 45 Years in Wall
      Street (Lambert Gann Publishing Co., 1949); and Truth of
      the Stock Tape (Financial Guardian Publishing Co.,
      1923). Gann died June 14, 1955, at the age of

      IN ORDER TO make a success trading in the stock
      market, the trader must have definite rules and follow
      them. The rules given below are based upon my personal
      experience and anyone who follows them will make a

      1. Amount of capital to use: Divide your capital
      into 10 equal parts and never risk more than one-tenth
      of your capital on any one trade.
      2. Use stop
      loss orders. Always protect a trade when you make it,
      with a stop loss order 3 to 5 points away.
      3. Never
      overtrade. This would be violating your capital rule.
      Never let a profit run into a loss. After you once have
      a profit of 3 points or more, raise your stop loss
      order so that you will have no loss of capital.
      Do not buck the trend. Never buy or sell if you are
      not sure of the trend according to your charts.
      When in doubt, get out, and don't get in when in
      7. Trade only in active stocks. Keep out of the
      slow, dead ones.
      8. Equal distribution of risk.
      Trade in 4 or 5 stocks, if possible. Avoid tying up all
      your capital in any one stock.
      9. Never limit your
      orders or fix a buying or selling price. Trade at the
      10. Don't close your trades without good reason.
      Follow up with a stop loss order to protect your
      11. Accumulate a surplus. After you have made a
      series of successful trades, put some money into surplus
      account to be used only in emergency or in times of
      12. Never buy just to get a dividend.
      13. Never
      average a loss. This is one of the worst mistakes a
      trader can make.
      14. Never get out of the market just
      because you have lost patience or get into the market
      because you are tired of waiting.
      15. Avoid taking
      small profits and big losses.
      16. Never cancel a
      stop loss order after you have placed it at the time
      you make a trade.
      17. Avoid getting in and out of
      the market too



    • I can�t afford to buy anything at Rodeo

      I can�t afford to stay at the Sofitel Hotels

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