Globalstar Memorial Day Massacre Message Board

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Technology Stocks : Globalstar Memorial Day Massacre

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To: RobertSheldon who wrote (368)	7/18/2000 3:36:24 AM
From: Maurice Winn	Read Replies (1) of 543

What we are really looking for is an inflection of consciousness, being the transition from: "This turkey is going on the block - haha. I'll cover at zero!!" to: "Holy s..t! Gulp!! Looks as though they are going to make it - I better get the hell outa here. Oh hell! How come the price is way over my short sell price? It'll come back again - this is just dreamers having a brief short squeeze. I'll cover on the next down-draft". to: Sweating. "Oh no! $60 a share. What the hell is going on here? That's twice my short price. Okay, don't panic. The quarter was nothing good at all. 30,000 subscribers is pitiful. 9M MOUs? They have to be mad. Okay, it's not dead, but it's sure not worth $10bn! This has gotta come right, at least for me to get out". Geez the markets are tough on people! I've never shorted things because it seems too tricky for my liking. It means predicting what a horde of mad investors will do. They can act totally irrationally and that can clean shorts out. I bet vast fortunes were lost shorting Amazon and Yahoo! Sure, Amazon has come down a bit now, but it's game over a year ago for multitudes of shorts. Having margin is dodgy, but at least not TOO risky, at low margins - though they go up at a frighteningly quick rate as markets fall and I suspect that catches a lot of people who don't realize the shifting debt to equity ratios get ugly fast. Globalstar LP was starting to get an ugly debt to market capitalisation ratio too at the $6 level! Mqurice

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