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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling
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To: GraceZ who wrote (268)5/5/2001 7:55:14 PM
From: Michail Shadkin  Read Replies (2) of 6873
 
Zaccardi - I agree to disagree on ITWO

First, I would like to say I welcome all opposing views on any of my trades and views. I always want to know if I missed something.
We all have something to learn from each other.

Re: ITWO

I almost always pick stocks to short based on fundamentals and look for entries based on technical analysis.

The chart that you provided, basically is typical of most momentum stocks in the last 3 weeks. So, its nothing new and speak nothing of ITWO in specific.
You never once mentioned fundamentals at all (see post 218)
And in the end, thats all that matters. (End meaning 6 months from now, not next 2 days)

Last 3 weeks, I been playing hit and run on my shorts on smaller positions than usual. I also predicted NAZ to hit 2250 three weeks ago and those that follow me are well aware of my uncanny market timing.

On friday I didnt see much force behind the slight breakout of ITWO at 23.25 (volume was large, but the action last 2 hours seemed extremely weak and tired)

I fully expect ITWO to retest 20 on a very short term basis, and it depends on the market at the time where I will cover.

That said, this company is a complete bloated overvalued pig, that in due time will fall hard and become a single didget midget.

I love technical analysis, but I never ever forget to look at fundamentals first.

Many Happy Returns
Michail
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