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Strategies & Market Trends : Playing the QQQQ with Terry and friends.
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To: Gush who wrote (426)5/25/2005 7:26:27 PM
From: Walkingshadow  Read Replies (2) of 4814
 
Hi Gush,

I would suggest getting out sooner rather than later.

The likelihood that EYET is going to fill that upside gap is extremely remote IMHO. And, there is a good chance that the bottom of that gap is not the bottom, that EYET will drop considerably below that point in the coming weeks or months.

So while there is clearly some dead cat bounce here, I think staying with a long position in a rapidly dying stock is tempting fate, adn particularly with regards to calls, is tempting fate.

The stock is in a solid downtrend, which means short positions have a considerably better risk profile than long positions. So, I would suggest looking to short EYET once things settle down.

T

T
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