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Strategies & Market Trends : Roger's 1997 Short Picks
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To: GuitarMan who wrote (5628)10/1/1997 5:37:00 PM
From: Alec Epting   of 9285
 
NASDAQ hit a record-setting volume today (in large part due to MCIC and WCOM) with little upward movement. The merger news notwithstanding, doesn't this suggest a near-term correction? With the anniversary for the 1987 crash just around the corner, the papers will start talking about it, comparing this market with that one, which will cause many investors, already nervous from repeated earnings warning bombshells like WDC and ASND, to pull out. Maybe it's time to hedge by shorting some overinflated stocks like ONSL and AMZN. Lockup provisions will expire in a few weeks. For ONSL, 12 million shares will become available for trading on October 17. Current float is 3 million. See what happened to RMBS when 1 million shares became available (84 to 50 in a matter of days).
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