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Strategies & Market Trends : Lizard King's Trading Swamp
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To: Slaran who wrote (595)8/20/1997 10:16:00 PM
From: LzzrdKing   of 7396
 
My thoughts on shorting

All traders should be effective shorters
Shorting is much harder than going long, as you have to buy on the way up, basically.
Also, shorts can be murder if the issue is thin, so avoid that, unless you like having your nuts squeezed <sorry ladies>
For me to short a stock, I look for a breakdown of support or a new low or some key sign that it is going lower. 75 97 A IBD is not exactly a weak stock.

Now lets look at EGRP. EGRP is in a solid uptrend. It is now finding a little resistance at the 21 day, but should get thru it, as with today's large volume, it should move. Volume proceeds price. Remember how that worked with FINL the other day?
EGRP is nowhere near breaking the uptrend. It is also heavily shorted if I recall, which makes it even less attractive as a short.
I think you can find a more attractive short than this one.
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