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Strategies & Market Trends : Roger's 1997 Short Picks
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To: Brad Davies who wrote (8725)12/22/1997 1:05:00 AM
From: space cadet  Read Replies (1) of 9285
 
Yes avnt looks like it may be getting close to turn out the lights time, though I think zona is perhaps the best short out there. I am still waiting for a bounce which looks like it won't come. In a few months pfizer will obliterate this company off the face of the earth... Talking about avnt I checked out cadence, and they look like one hell of an overpriced turkey themselves. p/e of 95, ridiculous market cap of 5 billion, at 1/3 the price they would still be overvalued. Has anyone considered shorting cadence? Only negative I can figure is if they win the avnt lawsuit how much will they win? And what is their foreign exposure, especially to SE asia?
Another stock I have puts on is itwo, truly absurd p/e, astronomical valuations, nevertheless it just goes up. I am getting creamed but I have till Feb for some sense to creep in the marketplace. If there is a real correction then overpriced stocks like this must return to earth. Anyone have an opinion. My yahoo puts expire in jan and are almost worthless at this point. I lucked out on ctxs and finished up with a profit but it's probably crazy to expect that to happen again.
If the market can have a week without se asia crashing (japan is tanking as I write this...) and without earnings warnings, I expect the fundumbs to take the market to incredible heights. But I'm starting to doubt whether we can have a whole actual week without asia news or earnings warnings or both...
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