Pump's daily trading recs, emphasis on short selling Message Board

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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Jim@Inland who wrote (6057)	11/17/2001 8:34:36 PM
From: backman	Read Replies (1) of 6873

Jim: I know you've sold naked options for awhile...only time i ever did it was KKD, (which cost me half and arm and half a leg).... Have you ever had any significant mishaps selling 'em naked? BTW, as a technical trader, re: your earlier MRVL question...i've noticed that when stocks hit 60 day highs, with steady charts underneath 'em (ie non gappy, trending accumulation)...similar to CSCO and INTC lately....they don't fall off in a hurry. i mentioned elsewhere that if WEBX took out 30, back about 2-3 weeks ago...that i would not want to be short until it played out its run...same with with VISG when it took out the 9/25 high...suddenly the POS becomes the "short from hell"....similar story LCBM on its first breakout would not want to be short MCDT above 21.25...unless im going in with well defined stops...i've cut way back on "building positions" in newly breaking out (ie 60 day highs) stocks. If anything, i'd rather be shorting NVDA with a stop somewhere in the 56-57 range or EBAY with a stop around 64-65

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