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: XBrit who wrote (4008)	7/16/2001 3:21:22 AM
From: RGM	of 6873

I have been there on short "swing" trade calls that went dramatically up instead of going down. These short trades then turned into position plays lasting weeks and, a few, months during the bull market. Michail's "deep pockets" and Tony's "deeper pockets" coupled with the proper mindset, the application of patience and price position allocations are the elements for successfully working a short position on a fundamentally, overvalued stock. For example, it took me about six months applying the above to turn a bad "swing" short call on GGUY into a profitable transaction. Another was shorting a $5 computer catalog stock for 500 shares at $19 to then watch it go, that very same day, to $60 and to close a few points below $60. Having a mindset towards working one type of trading method shall eventually work against you. You shall miss opportunities on potential long scalp transactions. Get smart on options. Doing butterfly spread or straddle option positions is another way to make steady money with minimal risk in a sideways market on the right type of stocks. What works best for one guy may not work best for you cause you are using something that you did not create to best fit your emotional comfort range. When market conditions or sentiment changes, you are dependent on the other guy rather than adjusting your own trading methodology to the changed market situation. Be flexible, maximize leverage to maximize cash so that you will be in a position for an unpredictable buying or shorting opportunity. If you have deep pockets, you are probably not concerned about your cash level. Rob

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