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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Mama Bear who wrote (2582)9/3/1998 11:09:00 PM
From: Ploni   of 18998
 
My last short of AVNT was at 15, and I was caught by surprise when it was pumped up overnight. In fact, I was surprised that I was the only one who was still short. I covered half at 25, wiping out my hard-earned earlier gains made by shorting the stock and buying puts. I covered my remaining half a few days ago, making a little money.

I'm surprised that the stock held up well during the 500-point crash, but is eroding now. I think there is a huge amount of manipulation in this one.

It's too bad that I was frightened into covering half when the stock soared. I really think there is something to the theory that when obnoxious longs start saying, "The stock is going to Pluto," it really means the end is near.

Speaking of lost opportunities, I was thinking of shorting ALTIF a few months ago, and mentioned it on Roger's thread, but no one knew much about it. There's something about their business that sounds too much like alchemy...
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