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Strategies & Market Trends : 50% Gains Investing
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To: Ray Tarke who wrote (206)11/8/1997 4:14:00 AM
From: Dale BakerRead Replies (2) of 118717
 
I was pleasantly surprised to see TSSW follow the pattern I had posted on the TSSW thread. The MM's clipped the "market sell" orders at the beginning down to 2 5/8 and the stock quickly recovered over 3. Once we see where it settles down I will put in a new stop-loss order.

As I mentioned in an earlier post, I shorted YHOO, YURI, NSPK and RMDY today as a hedge against a down day. In the end I offset my long losses about 20%. I want to emphasize that I put in VERY tight stop-loss orders for these positions since I decided up front that I would not ride out a squeeze in any one of them. My stop orders are 1.5 - 2.5 points above where I shorted. If they trip, I say OK and move on.

YHOO is the most unpredictable due to the high short interest. But a few more weak days and it could easily hit 40 again and make me 10 points. YURI could be a longer-term short since it has declined steadily since the mid-30's and shows no sign of firm resistance. Target here would be the upper teens.

NSPK and RMDY are question marks. The 3-month MACD charts show they are headed for a fall but TA is not written in stone by any means. I would welcome comments on either.

AMZN shares were not available to short through E*Trade.

Have a nice weekend everybody.
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