Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Roger A. Babb who wrote (5415)	9/17/1997 11:39:00 PM
From: Brad Davies	of 9285

Roger, I was bitten by the PRST snake a couple of years ago. I shorted at what I thought was a high, and watched go even further. It simply defied gravity. I learned two good lessons through the experience. 1. Never underestimate your opponent, and 2. It's not enough to be right on the fundamentals. You also have to learn to take losses even if you know that "eventually" you will be proven right. PRST, in my opinion represents a marvel in market manipulation. I simply cannot believe that there are that many true believers out there. Nevertheless, in this case I decided to take my loss and watch from the sidelines, and I am glad I did. I would be leary of maintaining a short position in this one, but wish you luck. Ron

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