WR's Momentum Trades

[ChrisJP]

Wellll Harbie,

Its amazing what people will throw their money at during the height of a mania.The reason why you have to remember those days is because most of the money that moved those stocks to such insane levels is gone ... so to speak.

Believe it or not while we were raking it in on the OTCBB, there was another mania going on. It was called "Beanie Babies". I kid you not, people were paying $300 for what was basically a $5 small stuffed animal. And then selling them 2 months later for $700. The mania lastest about 6 - 12 months or so.

Here's a sad story, I hope Wayne doesn't read it ....

One Sunday morning my wife had to go to the mall; she had a bunch of things to do so she decided to show up before the stores opened so she could get in and out of the place quickly.

She gets there and there's another woman there. The woman asks my wife "Are you here for the beanie babies ?" My wife and I were totally clueless about this phenomenon, so she said "Huh ?" and the woman then proceeded to explain that she was buying these things for hundreds of dollars and this is how she was gonna pay for her kids college education 8 or 9 years from now ...

Of course my wife expressed her doubts and when she told me I was horrified, but what can you do ....

Message of the post: A lot of people lost A LOT of money last year !!!

Chris



My other online trading account is a mattress !