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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Ed Zhao who wrote (8214)12/12/1997 3:24:00 AM
From: Bill Wexler  Read Replies (2) of 9285
 
I believe it will be very difficult to borrow Yahoo on a breakdown. I've found from long experience that the same people who corner the stock on the way up, then turn around and sell short to suckers (who think they're going to get rich playing the momentum game) at the very top. They have also cornered the float on the way down by borrowing every available share! Note that specialists and MMs are not subject to the uptick rule.

You're right that it is probably a bit safer to short the "second tier" companies. But, ironically, I consider Yahoo a surer bet, i.e. the chart will cross past this point (58) again....down....fast.
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