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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: American Spirit who wrote (44459)6/15/1999 12:55:00 AM
From: Jenna  Read Replies (2) of 120523
 
EBAY, YHOO, and CMGI.. this is not the first time buying puts (except for EBAY).. I've been buying puts intermittantly for the past few weeks, but I have also gone long NSOL, CMGI, NITE and NTBK. I don't like the situation any better than any of you but even if all 3 are up tomorrow (YHOO, EBAY and CMGI) there is no way I won't making profits on the puts. I have been talking to some interpreneurs and they are the most willing than anyone to admit they don't know (funny its usually the most modest and humble 'millionaires' who are the first to admit they just don't know, whereas some threaders are only to eager to call 'bottoms' longs, etc). How many have fallen prey to overeager touting and hyping of NITE, NTBK, SWS, AOL and others.

I don't worry about short covering because I'm only into 7 to 10 puts. I'm pretty tired of reading about 'bottoms' while newer 'individual investors' are getting on board before the correction is over. I like my trading style and have been pretty clear for the past 6 weeks about my 'hit 'n run' trading tactics and that I WOULD NOT be accumulating nets or anything else in the month of June. during the past 4 weeks there has been a massive correction and of course one day someone, somewhere will be correct and there will be a bottom, but I'd rather lose one day than have given up the past few weeks using my strategies (out of everything every night going both long and short on different sectors (i.e. earnings plays, semis, telecoms. etc.)..


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