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Technology Stocks : Stock Swap
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To: Patrick Slevin who wrote (17153)10/7/2000 3:20:50 PM
From: WTSherman  Read Replies (1) of 17305
 
<Yeah, probably. One should be aware, however, of the pressure on Nasdaq. I know personally of shrewd traders that have been Shorting Nasdaq since the Spring by doing nothing except adding to the Short every hundred points down.
<

Of course, this can work both ways. People short the market have more to lose as their gains pile up. If you look at some of the stocks that have gotten killed and the price they're at now I think that there is more risk than gain for shorts. Take AMAT, it was certainly way overbought at $120, but, if someone had shorted it at $90-100 how would you assess your risk now that its hovering at about $50? How much more downside do you think is possible versus upside. It seems to me that there's a much greater possibility that AMAT will see $75 before it sees $25...

There's tons of stocks in the same situation...
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