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Strategies & Market Trends : The Amateur Traders Corner

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To: Rita who wrote (2873)	11/3/2000 9:30:38 PM
From: Paul A	Read Replies (3) of 19633

Rita- funny you mention EBAY.. I just went full time into trading at that time, and I remember an analyst saying it was not a good stock to own etc etc.. and I watch it move average of 30 points a day for weeks.. it was amazing.. Its tough to average into a short, and really risky.. If you notice- professionals like Tom, Anthony, Roger etc etc all hit the total trash stocks.. Youll never see Tom shorting GE at 60, than averaging into it at 70.. than 80.. I think alot of people are hitting AMZN only because that one is really living on borrowed time- and whats really going to save it? I will average into a long position like CATS or STEC, but rarely do I play that game with shorts.. if I short AMZN at 40, ill use the charts/resistance levels and fundamental information to set a stop lose and once that triggers? I put my tail between my legs and walk away beaten :) but always always ALWAYS have a point where you say enough is enough.. Its interesting if you follow a professional shortseller like Anthony@pacific because he has the capitol to spread around and average into shorts like ETYS and KIDE.. he has the experience to realize they have gotten completely out of control so he allocates properly and just waits.. I dont have a list of all the stocks he was calling 'trash' last year but I would bet that his net worth tripled because of this insane bull market.. but at the same time, I never profited from a position in those stocks because I didnt have the capital or guts to hold a position for that long. Your right about this thread tho.. Its fantastic.. You can become an incredibly succesful trader following threads/people on s/i.. you just gotta be real careful because if they are good? alot of people are following them, and the positions become crowded..and thats when the short term gets real ugly.. STEC over $7.. lets get this thing moving already.. Folks are very very VERY wrong about this portion of the sector IMO.. same goes for SSTI, SNDK and CATS.. I honestly believe that getting in at these prices, (properly allocated to wait out the shortcomings of the other semis that will drag them down) and you will see easy doubles in 1 quarter.. .. keep in mind that when I post opinions on business im familiar with IM usually wrong.. like RMBS.... very risky business saying the markets are wrong, thats why I use stop loses :)

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