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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 subject6/15/2001 9:42:24 PM
From: Michail Shadkin   of 6873
 
Review of current holdings:

BSML short
very poor fundamentals
target 6s
no stop
will add 9.50
longer term position

BVEW long
long term play 6-9 months
starting to get really tired of watching this one trade.
I actually might add to my current 1/2 position, still debating.
I hate averaging down and almost never do.

CWON - short
longer term short, might be a zero.
will add 8.50-9.00
no stop

DLIA short
another pos
Target is $4.00
will add at 9.00
no stops here
medium term position
finally showed some weakness today

GADZ long
forward pe under 8
holding medium term.
target 17s

IDN short
what a pos this is!!!!!!!!!!!
target mid 6s
Next add at 13.00
longer term if needed here
no stops
hard to break AMEX stocks sometimes.

MRVC - long
value play based on LMNE spinoff this summer
short term target 11 or might just short LMNE on any pump to hedge the position and exploit the possible arbitrage.
no stop loss.

NMTC short
fundamentals shaky
target 20s, could easily warn in 2-3 weeks
will add at 25
stop at 25.75 which is resistance more or less
short term trade

PLMD - short
short term play
stop 36
target 30s

RSTO short
gigantic run from 1.50 to 7.00 over 5 weeks.
time for a major retrace
target 4.00
no stop
will add near 8.00
being a bid stubborn here

SONE short
what a pos this is.
2 month ago I covered this at 5 from the 9s
First time back since then
no stop for now
add 15.50 to 16.00
target 12.00 short term, but I might make it a long term position.
just not sure yet, play it by ear.
Showing signs of breakage.


I am back to being net short again (3 to 2).
I love the dark side.

Make sure you allocate well on your shorts.
If you are adding to existing short positions, please use larger % intervals (25% or so)
Show lots of patience on potential new positions.

Nasdaq has had lots of trouble between 2250-2300 level, nice resistance there.
A breakout of these level could take the NAZ to the 2500-2600 level.

It is starting to feel a lot like Feb and Mar again.
Giant warnings from all directions and NAZ is on the ski slopes.

Unlike 2 weeks ago, all news is now bad news.

I expect a lot more weakness later next week, might see slight bounce early in the week as NAZ has decent support at 2000.

Watch for July 17 as possibly a big reversal day.
Summer rally ran out of steam around this date 3 straight years.

Buy the Champs and Short the Chumps

traderpulse.com;
Michail
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