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Pastimes : MANIPULATION IS RAMPANT --- Can We Stop It?
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To: jtech who wrote (19)5/9/2002 7:28:31 PM
From: Dave Gore  Read Replies (1) of 589
 
I was long common on ESST but protected myself with options when I saw some negative posters showing up on Yahoo. So I lost very little. I also sold in afterhours at $20 right after earnings.

My mistake was relying way too much on fundamentals. I always do T/A and watch market psychology, but I figured it was so undervalued that it wouldn't break below $17.

If I had seen any reason given by anyone to short it, I might have, but I didn't see anything but the rumor about the off-balance information on their R&D expenses.

It hit $17+ yesterday and today before dropping back again, so no big deal. I am flat now pretty much. But you're right, in my 20+ years of trading, I have seen very few circumstances of powerhouse shorting on such a fundamentally sound stock.
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