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Technology Stocks : Ariba Technologies (Nasdaq-ARBA)
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To: rrufff who wrote (1068)9/7/2000 7:16:26 PM
From: Spytrdr   of 2110
 
there are much easier shorts than this, of course.
this is also not the best time of the year to short, and quarter results in a month always bring an extra element of surprise and randomness to the picture, but the chart with its screaming double top is too obvious to pass up and a run to the exact previous high doesn't scare me at all, i doubt it will surpass it, so i gave it a try.
i don't expect a biblical plunge from 50,000 feet like the one in march/april either or the one INSP had, i'll just take my pound of flesh and move on.
my buy-cover stop is a moving number, it depends on price action, if it moves in my favor i lower it if it comes towards me i might raise it if i'm confident or just close everything and wait for a better entry point later on or just forget about the whole damn thing.
hallucinogen price targets by analysts when a stock is obviously topping and losing steam and about to reverse are contrary indicators in my book.

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"of course, a break through would probably go to 200"
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