Dale, thanks for the input. If I understand your position, then, you are saying that, in the present climate, it doesn't much matter whether a particular stock is already near its 52-week low, because it is more likely to fall still further than to rebound. The only question is: how much longer is the present climate likely to endure?
Where would I find a listing of companies hitting their 52-week low? On the NASDAQ web site?
Another way to find losers, right now, is to look for what I call "no-goodniks." You might be interested in the results of a couple of searches I ran:
Message 13434481
Still another way, apparently, is to look at a list of all the companies that have held IPO's within the last year. You no doubt know about the <IPOLockup.com> site. Well, by the time 95% of these companies reach Lockout Zone time, they will already have fallen so far that you won't even be able to short them -- they will be below $5.00. (A bit of an exaggeration, of course -- but for effect.)
Needless to say, it is more or less the same companies, or the same type of companies, that turn up, whatever method you use: looking for 52-week lows, screening for no-goodniks, checking out recent IPOs.
You know the argument that in the recent hot market, even a monkey could have made a fortune throwing darts at anything in a hot area (telecommunications, internet, biotech, etc.), and then buying whatever he hit at random. Well, that same monkey could have made a fortune this past month by throwing darts at those some areas, and then shorting whatever he hit.
Doggone, I sure missed the boat! ;-(
jbe |
