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Strategies & Market Trends : Rande Is . . . HOME
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To: redwood who wrote (23880)4/14/2000 9:00:00 AM
From: Rande Is  Read Replies (1) of 57584
 
Redwood, Let me reassure you, your short positions are just fine. I happen to be long some PMCS now, looking for the bounce a bit too soon. . .again. . . [impulse buy, like People magazine in the check-out line]. . .

But I'd be watching this Nasdaq as it approaches the 200DMA. As I've said, I believe we'll blow right by last Tuesday's low. Keep your eye on the Nasdaq 100 and CSCO for the early signs of a good bottom being hit. . . and of course. . if we get any panic selling that causes a steep decline. . . that would be like the checkered flag on a short on those stocks. . .

But remember this! You have selected to short 2 of the most volatile stocks in these markets. I know this, because one of the many windows I keep open these days are the "most volatile stocks" . . . lately, I've been studying them continuously throughout the day.

So I can tell you that once we come anywhere near what appears to be panic selling or a V-bottom. . . PMCS and TERN will be quick to turn and will sprint quickly to the north.
PMCS beat the street last night, but still sold off. . .not sure if I would press my luck too hard, should this whole CPI scare just paint the SPOOs lower for another big headfake.

Bottom line. . . you did well. Congrats.

Rande Is
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