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Strategies & Market Trends : Action & Options- Taxikid plays

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To: taxikid who wrote (3348)	1/15/1998 12:46:00 PM
From: Allan F	Read Replies (1) of 4339

Taxi and all, You bring up a good point here. Something I have been considering. Is it worth-while to short a rotten stock after a big move down? The obvious answer is no. But, something like ZONA still has a market cap of >$190M. With Asensio et al blasting them everyday from a different angle, it seems it has nowhere to go but down. As Wexler said the other day, it is still trading above $15. I missed ZONA back in Nov due to not wanting to get over extended on my shorts. I passed again when it was $20 figuring it had a bounce or two in it. Now at $16, I am thinking stop worrying and short to sub-$10. Kind of like USAD. Have you checked the price of that one lately? (I got out at $10.5 largely due to the lack of breaking $10 after they finally reported their loss. In retrospect I think it was shorts covering at the $10 level...Kind of like ZITL now.) Thanks, -Allan

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