[PEN-L:28193] Re: Losing faith

["pms" <laflame@xxxxxxxxxxx>]

----- Original Message -----
From: Louis Proyect <lnp3@xxxxxxxxx>
To: <marxism@xxxxxxxxxxxxxxx>; <pen-l@xxxxxxxxxxxxxxxxxxx>
Sent: Friday, July 19, 2002 9:05 AM
Subject: [PEN-L:28186] Losing faith


> LA Times, July 19, 2002
>
> NEWS ANALYSIS
> Investors Losing Faith in Buy-and-Hold Mantra
> By TOM PETRUNO, KATHY M. KRISTOF and JOSH FRIEDMAN, Times Staff Writers
>
> Invest for the long haul. Don't try to play market swings. Keep most of
> your money in stocks because they'll beat the alternatives over time.
>

CAPITULATION is what the pros call for.  That means getting all the dummies
who bought and held, like we told them too, to sell now and keep selling
till the shares are cheap enough for us to buy again.

People I begged to sell last year are now asking me if they should sell.
Hell, I don't know.  It was easy back then.  Two others have asked me to
show them what to look at on a computor so they can make money in the
market.  And I'm a waitress for goodness sake!  Desperation is everywhere.
Except the two folks I know who bought gold mining shares last year when I
was all excited about the market.  They didn't ask to sit with me last week
when gold was correcting from a fab run.  But I know today they just love
me.  Fickle.  No more free advise.  No one even sent flowers.