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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Roger A. Babb who wrote (6271)10/29/1997 10:36:00 PM
From: Jon Tara  Read Replies (2) of 9285
 
Roger, I sold out my Templeton Dragon Fund which I'd I bought yesterday this morning. (At a very nice profit.) It proceeded to deteriorate all day. I felt that this was telling me that HK would go down again tonight. (Looks like it had, about 3% on the open.) Also sold MDCO for a profit.

Besides my small (and profitable) position in BROC, I now hold only a small position in Giant Industries which I added today. I am going to be looking-over the oil sector tonight, but from what I saw today it looks promising for longs. Oil stocks did not have the unreasonably recovery reaction that the tech stocks did, and many that fell are still near their low.

We seem to be entering a period of some international instability, and this is always good for oil.

I don't know if I will have the opportunity to buy Intel Warrants for 50 again (which I'm afraid I passed-up) but I'll bet I have a chance to pick them up at close to that price. I doubt that they will offer such a profit opportunity in only a few hours this time, though.

If we get another leg down, go back to my list of stocks that were plunging from the 50ma to the 200ma. They would then be good candidates to drop through the 200ma, like so many stocks already had.
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