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Pastimes : Don't Ask Rambi

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To: Jack Clarke who wrote (6020)	1/10/1998 11:36:00 AM
From: epicure	Read Replies (3) of 71178

As Penni said there is no off topic here, and as we all own stocks, or are interested in them, this is a perfect subject. Did you see Wall Street Week last night? Abby Cohen was on. I thought she might be a bit bearish, as she tends to be conservative. She was not bearish. She sees values here. I don't see a rebound coming yet, most of the charts I look at look just awful. I have a program that tracks 152 stocks, and all but 4 or 5 look like sells. A big correction could be coming, or we could trade sideways as we did in 1994 until earnings catch up with valuation. For people who are really worried about long positions but would like to keep the stock I would advise that you do some research on shorting against the box. For instance you have 500 shares of intc, you want to keep it but you are sure it is going down. You would short 500 shares, then cover with market shares if the price drops. If it goes up, you are protected from a call because you can cover the short position with your own shares. You would only do this at a level where you would not be crushed to sell your stock. It is also a nice way to move gains from one year into another year. Nothing is realized untill you close your short.

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