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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 subject6/27/2001 11:14:01 PM
From: Michail Shadkin   of 6873
 
Review of current holdings:

BSML short
very poor fundamentals
target 6s
no stop
will add 10.00 resistance is at 10.25
longer term position

BVEW long
long term play 6-9 months
starting to get really tired of watching this one trade.
If it breaks 2, I will call it a day.

CWON - short
longer term short, might be a zero, will take mid 3s.
will add 8.50-9.00
no stop
finally the break started after S&P downgraded CWON debt
much more downside to come

DLIA short
another pos
Target is $4.00
will add at 9.00
no stops here
medium term position

IDN short
what a pos this is!!!!!!!!!!!
target mid 6s
Next add at 13.00
longer term if needed here
no stops
This is one tough stock to break, I hate trading AMEX stocks.
But just like every other pos, eventually the axe will fall.

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

ALOY short
poor fundamentals and ugly business plan (dependancy on teenagers is very unpredictable, but expectation levels are very high)
Longer term position
Target 8-9
no stop loss here, but will watch carefully (could be trying to breakout)

WEBX short
another fundamentally poor story
longer term position
target 14-15
to stops for now
30 is next major resistance level.
Would love to add trading shares at 29.50

CORV long
medium term position
I feel there is some value here, but a terrible sector.
no stop here.
will do something a bit different here:
will add 1/4 position every 1/2 point down and sell 1/4 position every 1/2 point up
want to try something a tad different here and see how it works out.
target 5.00 on any optical bounce

CKCM long
fundamentally questionable
giant 32 million lockup last thursday, with significant pressure going in
I expect pressure to subside
stop at 7.75
target 10s (1-2 weeks)

HOMS short
fundamentals are ha ha ha ha ha ha ha
they are king of pro-forma
nice trading range 27s to 35s
will add 36
no stop
target 29
medium term

LWIN short
terrible fundamentals, could very easily be a GTZ
long term play
target below 5.00
no stops here
will add at 35.00

FFIV short
seems quite overvalued, but not a pos.
short term trade
target - a retrace to 16.00 for easy profits
stop 19.10
will not add here

I am about 4 to 1 right now to the short side and 47% invested of cash (not margin).
Many of my shorts are not market dependant.

Very unclear to me which way the market is heading next 2 day to close out the quarter. Possible window dressing.
Patience is crucial, I never like forcing trades.


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.

Only diference, market to is holding up despite all the warnings.

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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