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Strategies & Market Trends : Action & Options- Taxikid plays

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To: Allan F who wrote (3381)	1/16/1998 1:32:00 PM
From: taxikid	Read Replies (1) of 4339

usually it isn't one or two people.. the stock rolls in certain cycles and hasn't really moved up lately.. i was short @ 22 or 24.. i forget took a buck and ran away.. when too mny people are shorting the risk is higher that you will be underwater soon, because all of the "short" short money is scared money just as it is with newbie long investors.. new day traders etc.. think that because they are wired and a company has a p/e of 100.. that it is a "safe" short.. people were beating the drum loudly to sell ctxs short @ 20.. last year.. i was long 13/14.. sold 16.. was going to short higher up.. msft announced some licensing of proprietary source code.. stock halted jumped in high 20s.. then high 30's... i did like the company but the dramatic rise and the fact that i sold.. kept me away from a great trade.. it happens.. taxi~ctxs is overvalued.. but so is a hot dog at yankee stadium for $3.75 taxi

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