Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject	6/7/2001 10:58:15 PM
From: Michail Shadkin	Read Replies (2) of 6873

Reason I covered GOTO today: Basically it falls under one of my trading rules. Any stock that I have a trading short term position in, which is news driven, if this stock does not act in the way that I would expect it to act, I close the position. In my view, the secondary offering was very bad news and I expected 3 consecutive days of downside pressure to low 20s. This did not happen today, even as the market opened down. This was an immediate alert to me. I hate giving back profits. I will reshort this pig at higher levels. Another rule I follow: In general, when I start a short position based a significant runup, which happens to be a short term trading position, I will close the position if the stocks shows no retracement within 3-5 trading days. Usually if this kind of stock shows no weakness within 3-5 days, it tends to go higher. traderpulse.com Michail

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