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Strategies & Market Trends : DAYTRADING Fundamentals
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To: HairBall who wrote (3629)9/6/1999 10:02:00 AM
From: KM  Read Replies (1) of 18137
 
I like to short em after it's abundantly clear that a top has been reached and they're on the way down. With the goofy moves that a lot of stocks have, there's still plenty of downside for the taking.

A few weeks ago, I stupidly shorted HLIT betting on a double top that would fail. Not only did it not fail but it blew through it like it wasn't even there. In the premarket it was clear it was going to gap over the previous high so I set about desperately trying to cover before the market opened. Luckily, I caught a market maker on the offer who was obviously too busy eating his donuts and he sold me the stock to cover at a price which was not seen that day or henceforth. Even at that, it was still "only" a two point loss.

Anyway, that experience reminded me that I like to short weakling stocks, not the ones that people will chase and pay any price for.
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