Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Orhan Birol who wrote (9136)	12/30/1997 8:36:00 PM
From: craig crawford	Read Replies (1) of 9285

<< If you cannot get stock to short, you can always sell the calls naked. >> Never done that before. I am reading up on it though. I don't think my brokers will let me write calls naked. << I would still wait for the stock to form a top before shorting. It is very dangerous to short stocks making new highs. >> Only if you over-leverage yourself. YHOO could double from here and I won't get margined out. It's never that easy to just wait for a top. First of all something could happen and YHOO could open down 10 points one morning. Premiums would be outrageous and there probably wouldn't be any upticks. Just ask people who tried to short CTXS when it was down 10. Anybody get a hold of any shares? Probably just as well, it rebounded nicely. I heard people on the YHOO thread (or maybe it was this one) complaining that they couldn't get shares today. I'm glad I have mine at 60+ times sales even though YHOO is pushing 65 times sales now. I did consider going long YHOO at 65 at the same time, thereby saving any hardship if my short got called in. Also, I could ride the long up until it looks like a blow-off day, dump it on the way down for a nice profit and let YHOO come back towards my short. Kind of a primitive straddle but not with options. Anybody else ever try this? Any advice on the technique?

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