Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Mama Bear who wrote (4583)	12/16/1997 7:53:00 PM
From: Bill Wexler	Read Replies (2) of 27307

I made a mistake shorting Yahoo too early. Not to say that I'm covering...I'm not, and I eventually expect to profit from my position, but I made the mistake of shorting strictly on valuation before enough information was out to peg some sort of fair price on this stock. I think I'm going to be a little bit more patient the next time a momentum monster rolls through...even if it means missing the top by a mile. ASND and SHVA could have been profitably shorted 20, 30, and 40 points off their highs. In the future, I think I'm going to simply discipline myself to wait out the momentum speculation. However, I will quickly expand short positions on companies where the whiff of scam has hit the air and the stock prices are under pressure (ZITL, ZONA, and AVNT being great examples). A drop from 6 to 3 is much likelier in a ZITL within a reasonable time frame than a drop from 60 to 30 in YHOO. I also posted a similar note on Roger's thread. basically, I have decided that there are too many well-defined opportunities out there to spend too much time with the momentum stocks - no matter how tempting they may be.

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