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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Mama Bear who wrote (4529)12/15/1997 4:33:00 PM
From: Bill Wexler  Read Replies (1) of 27307
 
<<My best advice is to short everything in sight.>>

I would *mildly* disagree with that.

My strategy is to dramatically increase existing short positions that are in the money and show more and more evidence of unraveling.

I shorted more AVNT and ZONA today because it is clear that Avant's legal problems, declining market share, and worsening financial position are all coming to a boil. ZONA is simply a scam that has been uncovered and is in the process of collapsing as money flees.

I correspond frequently with a gentleman who used to post on SI under the handle "mondoman". he's a very clever investor and gave me a lot of good advice about shorting (his claim to fame was when he shorted Zitel in 1996 at 18...shorting more all the way through 72 and back down to 11...last I talked to him he still hasn't covered and is sitting on a paper profit damn near $750,000...yeesh!). One of the more interesting things he pointed out was that he makes the majority of his profits when a stock goes from 5 to 0 - not when it goes from 100 to 5. What it comes down to is this: Why bother covering if the story just keeps getting worse? If you haven't gone overboard on margin, you should be able to short more on any upticks or squeezes.

BTW - he is recently short some internet stocks but hasn't touched Yahoo yet. Hmmmm.
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