Just got this off of AOL market summary.

America Online, which is battling several rivals over instant-messaging technology, fell 7 7/8 to 100 1/16. AOL also lost ground as several top executives, including Chairman and Chief Executive Stephen Case, sold 4 million shares. Smart money getting out, or is it the rats are leaving the sinking ship?

-- bill (bill@preparingforworst.com), July 26, 1999

Answers

You know, this latest downturn seemed to start when microsoft reiterated that they expected a slowing of profits due to y2k. then they announced huge earnings and the stock(microsoft's) just sat there. Usually, it jumps when earnings are announced.

i keep waiting for it to go back up, but everytime i check, i see it's still down....

i think it's down 53 points right now... it's been going down for like a week now, i think with one exception.

personally, i don't think the y2k sell-off is happening just yet.... but you never know. older people with lots to risk by leaving their money in don't want to take chances. they might not have time to "wait until it goes back up"...because we don't know how long that will take.

There's no law that says the market won't crash..... can't legislate our way out of this (because that would cause panic, right???)

hmmmm

-- SuperLurker (slfsl@yahoo.com), July 26, 1999.

Here is the tale of the tape today. Internet Index down almost 5% !!

Tale of the Tape

Ray

-- Ray (ray@totacc.com), July 26, 1999.

I havent had a bath in weeks. Tuna and lots of it!

-- Maria (anon@ymous.com), July 26, 1999.

I hate to see this great market grind to a halt and possible go in reverse. It is going to be hilarious to see all these brokers sucking wind after giving such "sound, profitable advice". A monkey could have made 20% ROI over the past 7 years.

Its been a great ride, time to cash out...

It would be interesting to put together a POLL similar to the one done a couple of weeks ago about the severity only this time by the amount of money that could be drained by those on this forum...tough to implement though.

br14

-- br14 (br14@bout.done), July 26, 1999.

I HAVB THE ANSWER !!!!!! It has to be SMART MONEY! I got out today. :)

-- FLAME AWAY (BLehman202@aol.com), July 26, 1999.

Errrrrr....... HAVE

-- FLAME AWAY (BLehman202@aol.com), July 26, 1999.

Bulls make money, bears make money...

but pigs eventually get slaughtered.

-- Tim (pixmo@pixelquest.com), July 26, 1999.

Here is another quick poll:

When the market finally unwinds, will the sound resemble:

A) a tree falling in the woods with no one there to hear
B) air rushing out of an overinflated weather balloon
C) intestinal gas violently expelled from a wet anus
D) the wind knocked out of someone punched by Swartzenager in the tummy
E) an F-5 tornado on steroids, in Stereo Sensoround


-- pollmeister (poll@poll.poll), July 26, 1999.

Congratulations to FLAME AWAY for not being a complete pig and getting burned. I've said it before and I'll say it again. The uncertainty about Y2K will kill the bubble which should have died last year. The only thing which kept the market afloat was the prospect of passing SS legislation that would allow people to invest part of it in the stock market. The republicrats won't pass this for another 3 or 4 years if we're all still here then.

If you think that you can get your money out faster than most people, you are wrong. When the big drops start coming, your broker won't even take your call, he or she will be trying to sell his or her own shares. It's going to be ugly, but what would you expect after five straight years of 20% to 40% growth for the indexes.

Please get out if you aren't already. Oh and going into bonds won't help much either. Put everything into short term and cash for now and hedge into bullion coins if you have that much money. Time grows increasingly short.

-- nothere nothere (notherethere@hotmail.com), July 26, 1999.

This morning, gold was down $1.50 an ounce...OUCH! Don't look to gold either to save your butt.

-- onthesidelines (onthesidelines@onthesidelines.com), July 26, 1999.

The sell-offs of these executives were not major parts of their portfolios, they still own millions of shares among them. They seem to be liquidating to pursue other investments, so as not to have all their eggs in one basket. Selling near the top is a good move. I wouldn't read too much into this. I would, however, notice that the indexes were down again today, especially the NASDAQ. I think the down trend is merely beginning.

-- ariZONEa (not@the.market), July 26, 1999.

Gold at "$1.50 an ounce"???? I don't think so, dude. Try maybe $250 at least.

And come Y2K time, your location, your preps, and maybe even your gold and silver may indeed end up saving your butt.

-- King of Spain (madrid@aol.com), July 26, 1999.

Hey King! He said Gold "down" $1.50. He did not say Gold "at" $1.50!!!!

"My smart money" is getting into the market buying all Put Option positions that expire in January, 2001. It will make me a big bundle when the market crashes!!!!!!!!!! This is an opportunity of a lifetime!!!!

-- freddie (freddie@thefreeloader.com), July 26, 1999.

Watch out freddie. You may not be able to collect on your winning bet if the guy on the other side of the trade decides not to pay up. Don't expect your broker or SIPC to bail you out either.

I don't disagree with your strategy, but don't think for a second you won't get f*cked big-time by your broker if things go bad. I think the traditional advice about speculation applies here: Don't risk more than you can afford to lose.

-- Clyde (clydeblalock@hotmail.com), July 27, 1999.