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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: craig crawford who wrote (7301)2/12/1998 4:55:00 PM
From: Michael Collings  Read Replies (1) of 27307
 
Craig:

I didn't go long, just covered half my short and sold a call which effectively leaves me short. I was looking for a way to cover my loss and raise the basis of my short. No capitulation here. If the stock gets squeezed at this point I will short more at a higher price. In effect I just raised my short price to 67 on shares that I was short at 57 1/2.

If the stock drops from here I still have a short position at 69 and 70 but I won't make anything on the shares I covered on except the $7 premium.

I doubt there's a ton of capitulation going on other than it is getting tiresome to be in a stock that is going nowhere, neither up nor down, while the rest of the market has gone wild.
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