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Strategies & Market Trends : Rande Is . . . HOME

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To: Petrol who wrote (44094)	12/26/2000 3:06:21 PM
From: American Spirit	Read Replies (2) of 57584

Warning: shorting at the bottom. When it's hard to find possible "over hyped" candidates out there it reminds me of how hard it was to find "undervalued stocks" last spring. Remember that there are only a few days of tax-selling left. Clearly this and the last of the margin calls are what is keeping us from rallying off the bottom much. This accounts for selling into the rally but after this week there will be no more incentive to sell only to buy and hold. You can bet techs are going down more if you like. Lately you've been right, but there is a point where the direction sharply reverses itself. When you have some many stocks selling for less than cash in the bank, half their book value, or at 3 months revenues for the entire market cap watch out shorting. True a stock like CIEN may look over-priced but everything else looks cheap as hell. And even CIEN has reasons for being up there. I would be buying today. If you've been making a killing shorting lately don't get greedy. You can make a lot more now on the upside. Just a matter of time. A few days probably. Just MHO.

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