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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (26017)1/31/2002 6:40:19 PM
From: Israel  Read Replies (2) of 99280
 
Justa, I agree that shorts are way to over exuberant when it comes to EMLX.. everyone seems to think that EMLX is done for, which naturally makes me feel the opposite. We might get a nice pop on EMLX which is why I only initiated a small position on the short side and keeping my powder dry for higher prices.

I dont think its shorters alone who are propping it up by covering. I also think the price is being sustained by daytraders who ram into EMLX each time the NAZ futures move up .50 knowing it moves 3 times as much as the market itself. It will come to an end, PECS did MRVL (just starting to crack), BRCD to an extent as well, just have to be patient and well capitalized if you want the big $$ on the downside.

Israel
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