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Re: [sharechat] Panicking Kiwis

From:	"G Stolwyk" <stolwyk@wave.co.nz>
Date:	Mon, 17 Sep 2001 17:13:30 +1200

Same problem in Australia: Small holders are selling.

Panic fulfills a human need: to be part of an historic event.

I can only say that in my time: the early eighties, 1987, 1991,1998 and now again, much capital was lost and won.

I am not a seller today and as I mentioned on Friday:

http://www.sharechat.co.nz/archives/current/msg00185.shtml

US stocks will need to come down. The question is by how much? As mentioned, the US has temporary given extraordinary powers to firms to buyback their stocks.

Now, we already lost points on Friday to accomodate a prospective fall tonight. Others felt that this was not enough and sold more today.

Unfortunately, the AIR episode did not help matters. However, NZ did not need a large negative adjustment compared with the US where a lot of stocks were too highly priced anyway.

Gerry

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