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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote ()1/4/1998 8:44:00 PM
From: Chris Belk  Read Replies (1) of 18691
 
Roger--What do you think about short-term shorts? One that I had success with in Dec. was MCRL. It has been oscillating between its resistance at 30 and its support in the 23-24 range. It is currently at its resistance point. A good play might be to short it at its level now, put a stop limit buy-to-cover at 31-31.5, and ride it down to 25. Of course, this won't work if "Jan. effect" moves this stock. I think this is a short-term play because MCRL has been strong around earnings announcement in the past (released later this month).

Any thoughts?

Chris
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