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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: kollmhn who wrote (28806)1/7/2004 7:52:27 AM
From: chowder  Read Replies (1) of 206223
 
K-man!

I don't disagree with your comments on how dangerous it is to short the homeboys. One of the things I mentioned in my e-mail was that institutions like to step in at levels of support. Any attempt at shorting these guys should be with a short time frame in mind.

My message to Jim was on 1/3 and here it is, in it's entirety.

>>> One of the things to keep in mind is that a strong performing sector, such as the Homeboys, will have lots of support when the price drops to support levels. It has been the buying that shows up at support that has hurt the shorts up to this time.

The time to short strong performing stocks is when they drop under major levels of support ... on increasing volume!

MDC, CTX and HOV seem to be showing weakness at this time. If there was ever a time for a ripe play, this is it.

The timing says now!

Now keep in mind that strong performing stocks can change directions very quickly. If you decide to short and buying volume shows up, don't argue with the tape. Trade with the trend. <<<

Shorting strong performing stocks is like eating an elephant, you must do it one bite at a time. I don't consider shorting the homeboys a sell and hold. As my last paragraph stated, one must be aware that strong performing stocks can change directions very quickly.

dabum
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