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Strategies & Market Trends : The Market Taught Me That......
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To: Cynic 2005 who wrote ()11/4/1997 12:22:00 PM
From: White Shoes  Read Replies (1) of 151
 
Hi Mohan,

The market taught me not to do the following:

"If I thought it was overvalued before, it is surely even more overvalued now"...so it's a foolproof short candidate.

I then took and shorted YHOO. It's overconfidence like this that is destructive to wealth.

The market also taught me that it's a good idea to cover when you are being squeezed. DON'T wait until "fundamentals come into play" on a hype stock which is on a big bull run...this could take 3 years...not unless you have very deep pockets and no interest in playing any other stocks with your cash for the foreseeable future.

Covering my YHOO short allowed me to get on with the business of making money.
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