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Strategies & Market Trends : Shorts waiting to happen
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To: Cadaver who wrote (802)10/30/1997 8:49:00 PM
From: Cadaver  Read Replies (1) of 852
 
Bottom Fishing:

Friday:
If the market opens with a large downward gap, buy your favorite stocks. If it opens near or higher than todays' (thursdays) close, wait till it plummets further. At around 10 - 10:30 it should reverse upward. This is the time to buy some more. Not everything. I expect monday or tuesday to have another sharp drop. Crazy stuff like last tuesday is likely.

Place the following limit orders for fri, and next week:
INTC buy x shares @73 (this entry only if ur desperate for intc)
INTC buy 2x shares @71
INTC buy 4x shares @70
INTC buy 8x shares @66 (might not execute)

Place sell orders at 10 points above the purchased prices. Option players can do a bull spread.

If the stock plummets more than 5 points, sell puts. You can buy them back later at dirt cheap prices.

Try similar strategies for the following stocks, adjusting prices around last tuesdays lows as in the INTC example above:

DELL, CPQ, PAIR, MSFT

Dont panic. The only reason this correction is happening is due to the fact that stocks were way overvalued. The far eastern thing is just an excuse.

The reason I stress on keeping the mind open to shorting is because the only way you can make money is if you know when to sell. Pure bulls usually dont have any idea regarding selling. Shorting or even keeping your eye out for possible shorts will enable you to judge when its time to sell much more accurately.

-Cadaver.
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